Mizuho Securities USA LLC Has $26.60 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Mizuho Securities USA LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 185.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,153 shares of the company's stock after purchasing an additional 33,231 shares during the period. Mizuho Securities USA LLC's holdings in Elevance Health were worth $26,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ELV. Bank & Trust Co bought a new stake in shares of Elevance Health in the second quarter worth $27,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new position in shares of Elevance Health during the second quarter worth about $30,000. Finally, Eastern Bank acquired a new position in Elevance Health in the third quarter worth about $31,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $539.20.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company's stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

Elevance Health stock traded down $6.35 during mid-day trading on Friday, hitting $400.69. 2,616,673 shares of the company's stock traded hands, compared to its average volume of 1,164,884. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The company has a market cap of $92.93 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. The firm has a 50 day moving average price of $475.29 and a 200 day moving average price of $513.63. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share 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 company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the company earned $8.99 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Elevance Health Company 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.