Elevance Health, Inc. (NYSE:ELV – Get Free Report) declared a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 1.63 per share on Friday, December 20th. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th.
Elevance Health has increased its dividend by an average of 15.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Elevance Health has a dividend payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Elevance Health to earn $41.65 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 15.7%.
Elevance Health Price Performance
Shares of NYSE:ELV opened at $430.76 on Friday. Elevance Health has a 12 month low of $397.98 and a 12 month high of $567.26. The firm has a market capitalization of $100.12 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The company’s fifty day moving average price is $526.74 and its 200 day moving average price is $527.46.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on ELV shares. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday. Finally, Cantor Fitzgerald lowered their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $572.27.
Get Our Latest Report on Elevance Health
Insider Buying and Selling
In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,170 shares of company stock valued at $20,638,737 over the last quarter. 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.
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