OFI Invest Asset Management Has $91,000 Stock Position in Elevance Health, Inc. $ELV

OFI Invest Asset Management lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 21.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235 shares of the company’s stock after buying an additional 42 shares during the quarter. OFI Invest Asset Management’s holdings in Elevance Health were worth $91,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Elevance Health in the first quarter worth $29,000. North Capital Inc. bought a new position in shares of Elevance Health in the first quarter worth $36,000. Saudi Central Bank bought a new position in shares of Elevance Health in the first quarter worth $40,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health in the first quarter worth $43,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 0.5%

Shares of ELV opened at $351.43 on Tuesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. The stock has a market capitalization of $79.14 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a fifty day moving average of $316.63 and a 200-day moving average of $357.61.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period in the previous year, the business posted $10.12 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.11%.

Analysts Set New Price Targets

A number of research analysts recently commented on ELV shares. Wells Fargo & Company raised their price target on Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price target on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 22nd. Barclays raised their price target on Elevance Health from $373.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America raised their price target on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Robert W. Baird decreased their target price on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $412.00.

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.