Elevance Health, Inc. (ELV) to Issue Quarterly Dividend of $1.63 on December 20th

by · The Markets Daily

Elevance Health, Inc. (NYSE:ELV – Get Free Report) declared a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Shareholders of record on Thursday, December 5th will be given 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 raised its dividend payment by an average of 15.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Elevance Health has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. 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 $430.77 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market cap of $100.12 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a fifty day simple moving average of $526.74 and a two-hundred day simple moving average of $527.66.

Elevance Health (NYSE:ELV – Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $8.99 earnings per share. Analysts anticipate that Elevance Health will post 37.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday. TD Cowen dropped their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday. Finally, Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $572.27.

Get Our Latest Stock Analysis on Elevance Health

Insider Activity at Elevance Health

In other 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, 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. In the last ninety days, insiders sold 42,170 shares of company stock valued at $20,638,737. 0.35% of the stock is owned by insiders.

Elevance Health Company Profile

(Get Free Report)

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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