Elevance Health, Inc. (ELV) to Issue Quarterly Dividend of $1.71 on March 25th

Elevance Health, Inc. (NYSE:ELV) declared a quarterly dividend on Wednesday, January 22nd, RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 1.71 per share on Tuesday, March 25th. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, March 10th. This is a 4.9% increase from Elevance Health’s previous quarterly dividend of $1.63.

Elevance Health has raised its dividend payment by an average of 13.0% annually over the last three years and has increased its dividend every year for the last 14 years. Elevance Health has a dividend payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Elevance Health to earn $39.05 per share next year, which means the company should continue to be able to cover its $6.84 annual dividend with an expected future payout ratio of 17.5%.

Elevance Health Stock Up 1.7 %

ELV stock opened at $409.59 on Friday. The stock’s fifty day simple moving average is $390.64 and its two-hundred day simple moving average is $434.88. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts expect that Elevance Health will post 33.96 EPS for the current year.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Three 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

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.