Elevance Health, Inc. (NYSE:ELV) is Hotchkis & Wiley Capital Management LLC’s 8th Largest Position

Hotchkis & Wiley Capital Management LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,243,001 shares of the company’s stock after selling 70,578 shares during the quarter. Elevance Health accounts for about 2.1% of Hotchkis & Wiley Capital Management LLC’s holdings, making the stock its 8th biggest holding. Hotchkis & Wiley Capital Management LLC owned approximately 0.54% of Elevance Health worth $646,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ELV. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health in the second quarter valued at approximately $30,000. Eastern Bank acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. UBS Group decreased their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Up 0.8 %

NYSE ELV opened at $410.39 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s 50 day moving average price is $446.87 and its two-hundred day moving average price is $504.13. The stock has a market capitalization of $95.18 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company posted $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health 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.