Hotchkis & Wiley Capital Management LLC Sells 70,578 Shares of Elevance Health, Inc. (NYSE:ELV)

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,243,001 shares of the company’s stock after selling 70,578 shares during the period. Elevance Health makes up approximately 2.1% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 8th biggest position. Hotchkis & Wiley Capital Management LLC’s holdings in Elevance Health were worth $646,361,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ELV. Mather Group LLC. lifted its position in shares of Elevance Health by 19.8% in the second quarter. Mather Group LLC. now owns 400 shares of the company’s stock worth $207,000 after buying an additional 66 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Elevance Health by 346.3% during the second quarter. Trust Co. of Vermont now owns 299 shares of the company’s stock worth $162,000 after acquiring an additional 232 shares during the period. Fulton Bank N.A. grew its stake in Elevance Health by 2.8% in the second quarter. Fulton Bank N.A. now owns 1,130 shares of the company’s stock valued at $612,000 after purchasing an additional 31 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Elevance Health by 7.6% during the 2nd quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $4,951,000 after buying an additional 646 shares during the last quarter. Finally, Apella Capital LLC grew its holdings in shares of Elevance Health by 43.8% during the 2nd quarter. Apella Capital LLC now owns 1,928 shares of the company’s stock worth $1,020,000 after purchasing an additional 587 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.8 %

Shares of ELV opened at $410.39 on Tuesday. The firm 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. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The company has a 50-day moving average of $446.87 and a 200 day moving average of $504.13.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm posted $8.99 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. Elevance Health’s payout ratio is currently 23.77%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Morgan Stanley decreased 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. Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $539.20.

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.