Pzena Investment Management LLC Purchases 8,553 Shares of Elevance Health, Inc. $ELV

Pzena Investment Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 233,128 shares of the company’s stock after acquiring an additional 8,553 shares during the quarter. Pzena Investment Management LLC’s holdings in Elevance Health were worth $90,645,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ELV. Field & Main Bank raised its holdings in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after buying an additional 25 shares during the last quarter. Simplicity Wealth LLC increased its position in Elevance Health by 1.3% in the 3rd quarter. Simplicity Wealth LLC now owns 1,939 shares of the company’s stock valued at $754,000 after acquiring an additional 25 shares during the period. Tranquilli Financial Advisor LLC increased its position in Elevance Health by 1.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock valued at $805,000 after acquiring an additional 26 shares during the period. Mather Group LLC. lifted its position in Elevance Health by 3.5% during the 3rd quarter. Mather Group LLC. now owns 766 shares of the company’s stock worth $298,000 after acquiring an additional 26 shares during the period. Finally, 55 North Private Wealth LLC increased its stake in shares of Elevance Health by 4.5% during the third quarter. 55 North Private Wealth LLC now owns 598 shares of the company’s stock worth $233,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $434.44 on Thursday. The company has a market cap of $93.86 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.97 and a beta of 0.63. The firm’s 50 day moving average is $411.80 and its two-hundred day moving average is $373.00. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $450.69. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. During the same period in the previous year, the firm posted $6.03 earnings per share. Elevance Health’s quarterly revenue was up .7% compared to the same quarter last year. Analysts expect that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ELV shares. Royal Bank Of Canada increased their price target on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a report on Thursday, October 22nd. Leerink Partners boosted their price target on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Morgan Stanley upped their price target on Elevance Health from $404.00 to $449.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research note on Thursday, July 16th. Finally, TD Cowen lifted their price objective on Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $456.48.

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.