Mizuho Markets Cayman LP Takes $7.83 Million Position in Elevance Health, Inc. $ELV

Mizuho Markets Cayman LP purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 24,230 shares of the company’s stock, valued at approximately $7,829,000. Elevance Health comprises approximately 0.4% of Mizuho Markets Cayman LP’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC increased its stake in Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 37 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Rossby Financial LCC grew its holdings in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after purchasing an additional 44 shares during the last quarter. Activest Wealth Management grew its holdings in Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. Finally, Motco increased its position in shares of Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ELV. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research note on Tuesday, February 3rd. Truist Financial dropped their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Morgan Stanley reduced their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Stock Up 1.4%

Shares of NYSE:ELV opened at $296.14 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $65.36 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.60 and a beta of 0.51. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock’s fifty day simple moving average is $335.31 and its 200-day simple moving average is $334.16.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same period in the prior year, the firm earned $3.84 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.3%. Elevance Health’s payout ratio is currently 27.39%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.