Oppenheimer & Co. Inc. Has $3.02 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Oppenheimer & Co. Inc. lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,567 shares of the company’s stock after selling 434 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $3,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank & Trust Co acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the 4th quarter valued at $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Elevance Health in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last 90 days. 0.35% of the stock is owned by insiders.

Elevance Health Trading Up 0.9 %

ELV stock opened at $550.84 on Monday. The company has a market cap of $127.73 billion, a P/E ratio of 20.82, a PEG ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $535.11 and a 200-day moving average of $528.02.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.04 earnings per share. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. Elevance Health’s payout ratio is currently 24.64%.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Truist Financial boosted their price target on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada boosted their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Company Profile

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.