abrdn plc Has $128.27 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

abrdn plc trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,003 shares of the company’s stock after selling 12,131 shares during the quarter. abrdn plc owned about 0.15% of Elevance Health worth $128,265,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ELV. Raelipskie Partnership bought a new position in Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $31,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in 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. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.5 %

Shares of ELV opened at $405.54 on Tuesday. The company has a market capitalization of $94.05 billion, a PE ratio of 15.84, a PEG ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock’s 50-day moving average price is $386.50 and its two-hundred day moving average price is $456.70. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced 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 return on equity of 18.28% and a net margin of 3.38%. On average, analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is 25.46%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.