Deprince Race & Zollo Inc. Purchases New Shares in Elevance Health, Inc. $ELV

Deprince Race & Zollo Inc. acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 64,020 shares of the company’s stock, valued at approximately $20,686,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Apella Capital LLC lifted its holdings in shares of Elevance Health by 3.1% in the 3rd quarter. Apella Capital LLC now owns 1,983 shares of the company’s stock valued at $690,000 after acquiring an additional 59 shares during the last quarter. Banque de Luxembourg S.A. purchased a new stake in Elevance Health during the third quarter valued at approximately $100,000. Apollon Wealth Management LLC lifted its stake in shares of Elevance Health by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,676 shares of the company’s stock valued at $1,188,000 after purchasing an additional 255 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in shares of Elevance Health by 18.3% in the 3rd quarter. AMI Investment Management Inc. now owns 6,573 shares of the company’s stock worth $2,124,000 after purchasing an additional 1,015 shares during the period. Finally, Greenup Street Wealth Management LLC boosted its holdings in shares of Elevance Health by 1.8% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 6,068 shares of the company’s stock worth $1,961,000 after purchasing an additional 108 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Elevance Health stock opened at $349.84 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $77.75 billion, a PE ratio of 14.30, a P/E/G ratio of 1.62 and a beta of 0.52. The company has a 50 day moving average price of $334.07 and a 200-day moving average price of $329.52. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several analysts recently weighed in on ELV shares. Guggenheim increased their price target on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Elevance Health in a research report on Monday, December 22nd. Twelve analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $396.21.

Elevance Health Profile

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.