Oppenheimer & Co. Inc. Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Oppenheimer & Co. Inc. reduced its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,716 shares of the company’s stock after selling 154 shares during the period. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $2,695,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ELV. Alaska Permanent Fund Corp bought a new stake in Elevance Health in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC grew its position in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the period. ORG Partners LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $40,000. Private Wealth Management Group LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $41,000. Finally, Orion Capital Management LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at $46,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.4 %

Shares of ELV stock opened at $538.94 on Friday. The stock has a market cap of $125.26 billion, a P/E ratio of 20.37, a PEG ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $526.51 and its two-hundred day simple moving average is $502.92.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.46 EPS. Analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group boosted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $601.64.

Read Our Latest Stock Analysis on Elevance Health

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Profile

(Free Report)

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

See Also

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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