Oppenheimer & Co. Inc. Has $801,000 Holdings in Elevance Health, Inc. $ELV

Oppenheimer & Co. Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 55.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,478 shares of the company’s stock after selling 3,044 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nilsine Partners LLC grew its position in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after purchasing an additional 31 shares during the last quarter. Detalus Advisors LLC boosted its holdings in Elevance Health by 1.8% in the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after purchasing an additional 31 shares in the last quarter. Forum Financial Management LP increased its position in Elevance Health by 1.1% during the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after buying an additional 33 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ELV shares. Jefferies Financial Group cut their price target on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. Truist Financial lowered their price target on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Barclays reduced their price objective on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wells Fargo & Company dropped their target price on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price for the company. in a research report on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Trading Up 3.1%

Shares of ELV opened at $346.49 on Tuesday. The stock’s fifty day simple moving average is $352.53 and its 200-day simple moving average is $332.74. The firm has a market capitalization of $76.47 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. During the same period in the previous year, the business posted $3.84 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.0%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is presently 27.23%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.