Oppenheimer Asset Management Inc. Purchases 158 Shares of Elevance Health, Inc. (NYSE:ELV)

Oppenheimer Asset Management Inc. raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 7,856 shares of the company’s stock after buying an additional 158 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Elevance Health were worth $2,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Lifeworks Advisors LLC grew its stake in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares during the period. Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Catalina Capital Group LLC grew its stake in shares of Elevance Health by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after acquiring an additional 27 shares during the period. Tobam grew its stake in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Finally, Malaga Cove Capital LLC grew its stake in shares of Elevance Health by 0.6% during the 3rd quarter. Malaga Cove Capital LLC now owns 4,831 shares of the company’s stock valued at $2,512,000 after acquiring an additional 28 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.1 %

Shares of ELV opened at $397.09 on Monday. The stock has a market capitalization of $90.28 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The business’s 50 day simple moving average is $387.78 and its 200-day simple moving average is $438.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 26.71%.

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.