Oppenheimer Asset Management Inc. Buys 862 Shares of Elevance Health, Inc. (NYSE:ELV)

Oppenheimer Asset Management Inc. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 10.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,910 shares of the company’s stock after buying an additional 862 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Elevance Health were worth $3,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Roundview Capital LLC increased its stake in Elevance Health by 2.9% in the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after purchasing an additional 52 shares during the period. Moors & Cabot Inc. purchased a new stake in Elevance Health in the first quarter worth $251,000. Baird Financial Group Inc. increased its stake in Elevance Health by 0.4% in the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after purchasing an additional 57 shares during the period. Zions Bancorporation N.A. increased its stake in Elevance Health by 52.1% in the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after purchasing an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in Elevance Health by 102.9% in the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after purchasing an additional 429 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ELV shares. Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $547.00 target price on shares of Elevance Health in a research note on Friday. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley raised their price target on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Finally, JPMorgan Chase & Co. cut their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $564.60.

View Our Latest Stock Report on Elevance Health

Elevance Health Price Performance

Shares of ELV stock opened at $495.12 on Friday. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $501.78. The stock’s 50-day moving average is $476.77 and its 200 day moving average is $463.78. The company has a market cap of $116.35 billion, a P/E ratio of 19.67, a PEG ratio of 1.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter last year, the company earned $5.23 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 37.14 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.32%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is presently 23.52%.

Elevance Health Company Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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

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