Hotchkis & Wiley Global Value Fund on Elevance Health, Inc.
Thesis
Hotchkis & Wiley sees increasing evidence that Elevance's profitability is recovering. Despite the share-price improvement, the company remains valued at a discount to the broader market. The fund views Elevance as a compelling business capable of growing faster than GDP while returning most of its cash generation to shareholders.
“The company remains priced at a discount to the market despite being a compelling business that grows above GDP.”