Mizuho Securities USA LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,981 shares of the company's stock after acquiring an additional 6,944 shares during the quarter. Mizuho Securities USA LLC's holdings in Elevance Health were worth $8,109,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock valued at $2,511,814,000 after purchasing an additional 85,770 shares in the last quarter. Sanders Capital LLC increased its stake in Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after buying an additional 44,805 shares in the last quarter. Wellington Management Group LLP raised its stake in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Insiders Place Their Bets
In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on ELV shares. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Finally, Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $519.81.
Check Out Our Latest Report on Elevance Health
Elevance Health Stock Performance
ELV traded up $1.28 on Thursday, hitting $431.81. 1,075,229 shares of the stock traded hands, compared to its average volume of 1,321,768. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $98.17 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average price of $402.56 and a two-hundred day moving average price of $422.85.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued 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 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is 26.71%.
Elevance Health Company Profile
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Free Report)
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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