Deprince Race & Zollo Inc. Acquires New Holdings in Elevance Health, Inc. $ELV

Deprince Race & Zollo Inc. acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 64,020 shares of the company’s stock, valued at approximately $20,686,000.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Elevance Health in the 2nd quarter worth $1,148,379,000. Sanders Capital LLC grew its stake in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in Elevance Health in the second quarter worth about $293,141,000. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after buying an additional 704,790 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its holdings in shares of Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $349.84 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $77.75 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.52. The company’s 50 day moving average is $334.07 and its 200 day moving average is $329.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $8.37 EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. TD Cowen increased their price target on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. UBS Group dropped their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Barclays cut their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $396.21.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.