Pzena Investment Management LLC Has $87.42 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Pzena Investment Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,980 shares of the company’s stock after purchasing an additional 6,983 shares during the period. Pzena Investment Management LLC’s holdings in Elevance Health were worth $87,418,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after purchasing an additional 138,380 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after acquiring an additional 464,137 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after acquiring an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $344.51 on Thursday. The business’s 50 day moving average is $376.31 and its 200-day moving average is $396.73. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $77.84 billion, a PE ratio of 13.44, a PEG ratio of 0.85 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $309.71 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Elevance Health’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s dividend payout ratio is 26.69%.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company cut their target price on shares of Elevance Health from $478.00 to $400.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays cut their target price on shares of Elevance Health from $480.00 to $434.00 and set an “overweight” rating for the company in a research report on Wednesday, July 9th. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $481.87.

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.