Daymark Wealth Partners LLC Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Daymark Wealth Partners LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,942 shares of the company’s stock after selling 208 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Elevance Health were worth $716,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health in the 3rd quarter worth $26,000. PSI Advisors LLC purchased a new position in Elevance Health in the third quarter worth about $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ELV shares. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald cut their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $524.87.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $401.20 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock’s fifty day moving average price is $386.32 and its 200-day moving average price is $463.64. The firm has a market cap of $93.05 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.10 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. On average, equities research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.70%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 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.