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

Barrow Hanley Mewhinney & Strauss LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 782,922 shares of the company's stock after selling 67,718 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.34% of Elevance Health worth $288,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Vise Technologies Inc. boosted its stake in shares of Elevance Health by 39.2% during the 4th quarter. Vise Technologies Inc. now owns 2,947 shares of the company's stock worth $1,087,000 after acquiring an additional 830 shares in the last quarter. Pinkerton Retirement Specialists LLC lifted its holdings in shares of Elevance Health by 7.6% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 6,441 shares of the company's stock valued at $2,376,000 after purchasing an additional 454 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $39,000. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Elevance Health in the 4th quarter worth about $258,000. Finally, Novem Group purchased a new position in Elevance Health in the 4th quarter worth about $405,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Barclays raised their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Truist Financial lifted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Guggenheim restated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Stock Up 1.7%

Shares of ELV traded up $6.40 during midday trading on Wednesday, reaching $382.38. 995,496 shares of the stock were exchanged, compared to its average volume of 1,526,671. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The firm has a 50 day simple moving average of $417.18 and a 200-day simple moving average of $402.16. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $86.39 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Elevance Health 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.