Elevance Health, Inc. Declares Quarterly Dividend of $1.71 (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV - Get Free Report) announced a quarterly dividend on Friday, July 18th, Wall Street Journal reports. Investors of record on Wednesday, September 10th will be paid a dividend of 1.71 per share on Thursday, September 25th. This represents a $6.84 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 10th.

Elevance Health has a dividend payout ratio of 17.4% indicating that 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 Price Performance

Shares of NYSE ELV traded up $0.82 during mid-day trading on Monday, reaching $277.91. The company had a trading volume of 1,034,465 shares, compared to its average volume of 1,670,299. The company has a 50-day moving average price of $371.52 and a two-hundred day moving average price of $396.02. The stock has a market cap of $62.58 billion, a PE ratio of 11.83, a P/E/G ratio of 0.81 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health has a 1-year low of $274.60 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the firm posted $10.12 EPS. The business's revenue was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The shares were purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday. UBS Group reaffirmed a "buy" rating and issued a $484.00 price objective (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.93.

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.