Daymark Wealth Partners LLC Has $693,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Daymark Wealth Partners LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 18.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,592 shares of the company’s stock after selling 350 shares during the period. Daymark Wealth Partners LLC’s holdings in Elevance Health were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Milestone Asset Management LLC increased its holdings in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after buying an additional 24 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. McLean Asset Management Corp increased its holdings in shares of Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company’s stock valued at $620,000 after purchasing an additional 32 shares in the last quarter. Finally, Keystone Financial Services increased its holdings in shares of Elevance Health by 2.4% in the fourth quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock valued at $530,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 1.4%

Shares of NYSE ELV opened at $383.97 on Wednesday. The company’s fifty day moving average is $407.33 and its 200-day moving average is $400.59. The stock has a market cap of $86.75 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Barclays lowered their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a report on Monday, June 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Guggenheim reaffirmed a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $498.87.

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.