Daymark Wealth Partners LLC Has $1.15 Million Position in Elevance Health, Inc. (NYSE:ELV)

Daymark Wealth Partners LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,120 shares of the company’s stock after buying an additional 64 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Elevance Health were worth $1,149,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Morningstar Investment Services LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at approximately $239,244,000. Focused Investors Fund L P bought a new stake in shares of Elevance Health during the 1st quarter worth approximately $249,884,000. M&G Plc acquired a new stake in shares of Elevance Health during the 1st quarter worth approximately $203,389,000. Finally, Maj Invest Holding A S bought a new position in Elevance Health in the second quarter valued at approximately $173,753,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE ELV opened at $520.28 on Friday. The company has a market capitalization of $120.92 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.17 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The stock has a fifty day simple moving average of $535.75 and a 200 day simple moving average of $529.81.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the previous year, the company posted $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.25%. Elevance Health’s payout ratio is 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a report on Thursday, September 5th. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Bank of America restated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Barclays lowered their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock worth $17,588,116. Company insiders own 0.35% of the company’s stock.

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.