8,553 Elevance Health, Inc. $ELV Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 3.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 233,128 shares of the company’s stock after buying an additional 8,553 shares during the quarter. Pzena Investment Management LLC owned 0.11% of Elevance Health worth $90,645,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Activest Wealth Management lifted its stake in shares of Elevance Health by 146.2% in the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after acquiring an additional 38 shares during the last quarter. Kilter Group LLC bought a new stake in Elevance Health during the 2nd quarter valued at $28,000. WealthCollab LLC grew its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Elevation Wealth Partners LLC increased its position in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the period. Finally, Tacita Capital Inc bought a new position in shares of Elevance Health during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $434.44 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The company’s fifty day moving average price is $411.80 and its 200-day moving average price is $373.00. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $450.69. The firm has a market capitalization of $93.86 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.03 EPS. On average, equities research analysts predict that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio (DPR) is 29.34%.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Royal Bank Of Canada increased their target price on Elevance Health from $424.00 to $455.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 22nd. Guggenheim increased their price objective on Elevance Health from $460.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Leerink Partners lifted their target price on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Finally, Mizuho set a $490.00 price target on Elevance Health in a research report on Friday, October 23rd. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $456.48.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.