Mizuho Securities USA LLC Has $7.82 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Mizuho Securities USA LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 16.1% during the 3rd quarter, Holdings Channel reports. The firm owned 15,037 shares of the company’s stock after selling 2,885 shares during the quarter. Mizuho Securities USA LLC’s holdings in Elevance Health were worth $7,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Elevance Health by 45.1% in the 3rd quarter. Pacer Advisors Inc. now owns 24,588 shares of the company’s stock valued at $12,786,000 after purchasing an additional 7,641 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in Elevance Health during the 3rd quarter worth about $533,000. LPL Financial LLC lifted its position in Elevance Health by 7.8% during the 3rd quarter. LPL Financial LLC now owns 188,074 shares of the company’s stock worth $97,798,000 after buying an additional 13,619 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Elevance Health by 67.6% during the 3rd quarter. Intech Investment Management LLC now owns 27,070 shares of the company’s stock worth $14,076,000 after buying an additional 10,915 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of several research reports. Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Up 0.8 %

Shares of NYSE ELV opened at $397.48 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The stock has a market capitalization of $92.18 billion, a P/E ratio of 14.49, a PEG ratio of 1.17 and a beta of 0.85. The stock’s fifty day moving average is $466.51 and its 200 day moving average is $510.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the business posted $8.99 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.