Elevance Health, Inc. (NYSE:ELV) to Issue Quarterly Dividend of $1.72

Key Points

• Elevance Health declared a quarterly dividend of $1.72 per share, payable on September 25 to shareholders of record as of September 10, with an implied annual dividend yield of about 1.8%.
• The company has a strong dividend track record, having raised its payout annually for 14 straight years, and its dividend appears well covered by earnings with a 17.5% payout ratio.
• Elevance Health also recently reported better-than-expected Q2 earnings, with EPS of $7.45 versus estimates of $6.18 and revenue of $49.83 billion topping expectations.

Elevance Health, Inc. (NYSE:ELV - Get Free Report) announced a quarterly dividend on Tuesday, July 14th. Investors of record on Thursday, September 10th will be given a dividend of 1.72 per share on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th.

Elevance Health has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Elevance Health has a payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Elevance Health to earn $29.11 per share next year, which means the company should continue to be able to cover its $6.88 annual dividend with an expected future payout ratio of 23.6%.

Elevance Health Stock Down 8.7%

ELV stock traded down $36.94 during midday trading on Wednesday, hitting $389.85. The stock had a trading volume of 3,896,777 shares, compared to its average volume of 1,819,670. The business has a 50-day moving average of $399.37 and a two-hundred day moving average of $354.74. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $84.66 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. Elevance Health has a 52-week low of $273.71 and a 52-week high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts' consensus estimates of $6.18 by $1.27. The firm had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.84 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.84 EPS. As a group, equities research analysts forecast that Elevance Health will post 26.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Bank of America boosted their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Cantor Fitzgerald lifted their target price on shares of Elevance Health from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Wall Street Zen lowered Elevance Health from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Guggenheim lifted their price objective on Elevance Health from $396.00 to $399.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $435.05.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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