Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,550 shares of the company’s stock after acquiring an additional 722 shares during the quarter. Pzena Investment Management LLC owned approximately 0.08% of Elevance Health worth $91,270,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC raised its stake in Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares during the period. Clearstead Advisors LLC raised its stake in Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the period. Financial Counselors Inc. raised its stake in Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after purchasing an additional 22 shares during the period. Sugarloaf Wealth Management LLC raised its stake in Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after purchasing an additional 22 shares during the period. Finally, Capital Investment Advisors LLC raised its stake in Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV traded up $2.98 during mid-day trading on Wednesday, hitting $548.59. The stock had a trading volume of 419,030 shares, compared to its average volume of 1,009,816. The stock has a market capitalization of $127.50 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.19 and a beta of 0.79. The company has a 50 day simple moving average of $522.08 and a 200-day simple moving average of $496.68. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the firm posted $9.46 EPS. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Mizuho raised their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada raised their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $587.42.

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.