Elevance Health, Inc. $ELV Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in Elevance Health, Inc. by 8.1%, selling 22,591 shares, leaving them with a total of 255,889 shares valued at approximately $99 million.
• Several analysts have revised their price targets for Elevance Health, raising estimates to between $395.00 and $420.00, while twelve analysts maintain a Buy rating on its stock.
• Elevance Health recently announced a quarterly dividend of $1.71 per share, contributing to an annualized dividend yield of 1.9% with a payout ratio of 29.11%.

Aberdeen Group plc trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,889 shares of the company's stock after selling 22,591 shares during the period. Aberdeen Group plc owned approximately 0.11% of Elevance Health worth $99,014,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GLOBALT Investments LLC GA grew its holdings in Elevance Health by 0.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after purchasing an additional 24 shares in the last quarter. Elser Financial Planning Inc grew its holdings in Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Hemington Wealth Management grew its holdings in Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after acquiring an additional 27 shares in the last quarter. Finally, Aspen Investment Management Inc grew its holdings in Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company's stock worth $456,000 after acquiring an additional 27 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of Elevance Health from $373.00 to $395.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of Elevance Health from $330.00 to $412.00 and gave the stock an "overweight" rating in a report on Tuesday. Leerink Partners reissued a "market perform" rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Mizuho lifted their price target on shares of Elevance Health from $342.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $412.00.

Elevance Health Trading Down 1.4%

NYSE ELV opened at $353.29 on Friday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $510.24. The company has a 50-day simple moving average of $315.10 and a 200-day simple moving average of $359.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $79.55 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.31 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.12 earnings per share. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were given a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

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.

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