Barrow Hanley Mewhinney & Strauss LLC Sells 67,718 Shares of Elevance Health, Inc. (NYSE:ELV)

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 782,922 shares of the company’s stock after selling 67,718 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.34% of Elevance Health worth $288,820,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its stake in Elevance Health by 3.8% in the third quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock valued at $436,000 after buying an additional 31 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Elevance Health by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company’s stock worth $5,217,000 after acquiring an additional 1,100 shares during the period. Financial Counselors Inc. lifted its position in Elevance Health by 2.7% in the 3rd quarter. Financial Counselors Inc. now owns 1,953 shares of the company’s stock valued at $1,016,000 after acquiring an additional 51 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Elevance Health by 0.7% during the third quarter. Captrust Financial Advisors now owns 38,974 shares of the company’s stock worth $20,267,000 after buying an additional 286 shares during the period. Finally, PFM Health Sciences LP grew its stake in shares of Elevance Health by 2.2% during the 3rd quarter. PFM Health Sciences LP now owns 56,441 shares of the company’s stock worth $29,349,000 after acquiring an additional 1,191 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $431.84 on Friday. The company has a market capitalization of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a 50-day simple moving average of $404.45 and a 200 day simple moving average of $421.28.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Monday, March 17th. Finally, Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

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.