Hotchkis & Wiley Capital Management LLC Has $773.18 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Elevance Health by 0.1%, acquiring a total of 1,777,584 shares worth approximately $773.18 million, making it the firm's 6th largest holding.
• Institutional investors own 89.24% of Elevance Health, with several firms recently acquiring new stakes or increasing their positions in the company.
• Elevance Health's CEO, Gail Boudreaux, purchased 8,500 shares at a total value of approximately $2.44 million, which represents a 5.96% increase in her ownership.

Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,777,584 shares of the company's stock after acquiring an additional 1,972 shares during the quarter. Elevance Health comprises approximately 2.6% of Hotchkis & Wiley Capital Management LLC's holdings, making the stock its 6th biggest holding. Hotchkis & Wiley Capital Management LLC owned approximately 0.79% of Elevance Health worth $773,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Private Wealth Management Group LLC lifted its holdings in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after buying an additional 38 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in Elevance Health in the 4th quarter worth $25,000. Riverview Trust Co lifted its holdings in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after buying an additional 67 shares in the last quarter. North Capital Inc. acquired a new position in Elevance Health in the 1st quarter worth $36,000. Finally, Berbice Capital Management LLC acquired a new position in Elevance Health in the 1st quarter worth $43,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

In other news, Director Susan D. Devore bought 1,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $0.48 during trading on Wednesday, reaching $309.55. 1,462,873 shares of the company's stock traded hands, compared to its average volume of 1,971,405. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $567.26. The company has a 50 day moving average of $321.63 and a 200-day moving average of $377.46. The stock has a market capitalization of $69.71 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the company earned $10.12 EPS. Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health's dividend payout ratio is 29.11%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Morgan Stanley cut their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Guggenheim dropped their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Argus reissued a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Truist Financial dropped their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Leerink Partnrs downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $413.81.

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.