Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 185.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,153 shares of the company’s stock after acquiring an additional 33,231 shares during the quarter. Mizuho Securities USA LLC’s holdings in Elevance Health were worth $26,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Bank & Trust Co acquired a new stake in shares of Elevance Health during the second quarter worth about $27,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new position in shares of Elevance Health during the third quarter worth approximately $31,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELV. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Stock Down 1.5 %

ELV stock opened at $400.78 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $475.29 and its 200 day moving average price is $513.63. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The company has a market cap of $92.95 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the firm earned $8.99 EPS. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

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.