Pzena Investment Management LLC Buys 1,629 Shares of Elevance Health, Inc. (NYSE:ELV)

Pzena Investment Management LLC lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 193,997 shares of the company's stock after buying an additional 1,629 shares during the period. Pzena Investment Management LLC owned about 0.08% of Elevance Health worth $71,565,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ELV. Lifeworks Advisors LLC lifted its position in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after acquiring an additional 25 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Tobam boosted its position in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after buying an additional 27 shares during the last quarter. Finally, Austin Private Wealth LLC raised its position in Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

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Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday, March 1st. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, Argus reiterated a "hold" rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Price Performance

Shares of ELV traded down $4.52 during mid-day trading on Wednesday, hitting $417.52. 973,063 shares of the stock were exchanged, compared to its average volume of 1,636,241. The company has a market cap of $94.92 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a 50-day moving average of $392.54 and a two-hundred day moving average of $431.56. 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 (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.64%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 26.71%.

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.