abrdn plc Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

abrdn plc decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,003 shares of the company's stock after selling 12,131 shares during the quarter. abrdn plc owned 0.15% of Elevance Health worth $128,265,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the 3rd quarter worth $26,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter valued at $27,000. Eastern Bank purchased a new stake in Elevance Health during the third quarter valued at about $31,000. Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter worth about $34,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. Finally, Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $517.03.

Elevance Health Trading Up 0.0 %

Shares of Elevance Health stock traded up $0.15 during midday trading on Wednesday, reaching $402.13. 1,205,358 shares of the company's stock traded hands, compared to its average volume of 1,776,789. The company has a market cap of $93.26 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The stock has a 50 day moving average of $386.46 and a 200-day moving average of $455.31. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. 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 posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts expect that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is presently 25.46%.

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.