Elevance Health, Inc. (NYSE:ELV) is Seizert Capital Partners LLC’s 9th Largest Position

Seizert Capital Partners LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,229 shares of the company’s stock after acquiring an additional 21,708 shares during the quarter. Elevance Health comprises 2.4% of Seizert Capital Partners LLC’s holdings, making the stock its 9th biggest position. Seizert Capital Partners LLC’s holdings in Elevance Health were worth $54,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Evergreen Wealth Management LLC raised its stake in Elevance Health by 36.0% in the third quarter. Evergreen Wealth Management LLC now owns 5,353 shares of the company’s stock valued at $2,783,000 after buying an additional 1,418 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Elevance Health by 8.2% in the 3rd quarter. Natixis Advisors LLC now owns 192,096 shares of the company’s stock valued at $99,890,000 after purchasing an additional 14,502 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of Elevance Health by 185.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after purchasing an additional 33,231 shares during the last quarter. Simplify Asset Management Inc. boosted its stake in Elevance Health by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 8,762 shares of the company’s stock worth $4,556,000 after purchasing an additional 3,526 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Elevance Health by 24.9% during the 3rd quarter. Empowered Funds LLC now owns 41,965 shares of the company’s stock worth $21,822,000 after purchasing an additional 8,379 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $400.69 on Friday. The firm has a market cap of $92.93 billion, a PE ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. The business has a 50-day moving average price of $475.29 and a 200 day moving average price of $513.52. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its 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 return on equity of 19.56% and a net margin of 3.68%. The business 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 company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Cantor Fitzgerald reduced their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was 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 in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

About Elevance Health

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.