Oppenheimer Asset Management Inc. Purchases 2,386 Shares of Elevance Health, Inc. (NYSE:ELV)

Oppenheimer Asset Management Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 45.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,580 shares of the company’s stock after buying an additional 2,386 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Elevance Health were worth $4,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ELV. Tower Research Capital LLC TRC lifted its holdings in shares of Elevance Health by 114.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares during the period. Brave Warrior Advisors LLC lifted its position in shares of Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after purchasing an additional 129,055 shares during the period. New Mexico Educational Retirement Board lifted its holdings in Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after buying an additional 1,800 shares during the period. Bank of Nova Scotia boosted its position in Elevance Health by 276.0% during the fourth quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock valued at $38,823,000 after acquiring an additional 60,436 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after acquiring an additional 6,610 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELV shares. JPMorgan Chase & Co. upped their target price on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen dropped their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Stephens restated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Performance

Shares of ELV opened at $553.50 on Tuesday. The firm has a market capitalization of $128.35 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The stock has a 50 day moving average price of $535.65 and a two-hundred day moving average price of $528.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.04 EPS. Equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.18%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling

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

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.