Daymark Wealth Partners LLC Sells 208 Shares of Elevance Health, Inc. (NYSE:ELV)

Daymark Wealth Partners LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 9.7% in the 4th quarter, Holdings Channel.com reports. The fund 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ELV. Nisa Investment Advisors LLC lifted its holdings in shares of Elevance Health by 143.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 199,438 shares of the company’s stock valued at $73,573,000 after purchasing an additional 117,473 shares during the last quarter. Atomi Financial Group Inc. increased its position in Elevance Health by 6.8% during the 4th quarter. Atomi Financial Group Inc. now owns 657 shares of the company’s stock valued at $243,000 after buying an additional 42 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in Elevance Health by 110.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,114 shares of the company’s stock valued at $1,149,000 after buying an additional 1,633 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in Elevance Health by 7.9% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 117,726 shares of the company’s stock valued at $43,429,000 after buying an additional 8,664 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its stake in shares of Elevance Health by 3.4% during the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,061 shares of the company’s stock worth $391,000 after acquiring an additional 35 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $401.20 on Friday. The firm has a fifty day moving average price of $386.32 and a 200 day moving average price of $463.64. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock 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 debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Equities research analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. 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 research note on Monday, January 6th. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Cantor Fitzgerald cut their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $524.87.

About Elevance Health

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.