Elevance Health, Inc. (ELV) to Issue Quarterly Dividend of $1.63 on June 25th

Elevance Health, Inc. (NYSE:ELVGet Free Report) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid a dividend of 1.63 per share on Tuesday, June 25th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th.

Elevance Health has raised its dividend payment by an average of 15.9% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Elevance Health to earn $41.64 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 Trading Down 0.4 %

ELV stock opened at $538.97 on Friday. The company has a market capitalization of $125.27 billion, a PE ratio of 20.37, a P/E/G ratio of 1.19 and a beta of 0.83. The firm’s 50-day moving average is $526.51 and its 200 day moving average is $502.70. Elevance Health has a 12 month low of $412.00 and a 12 month high of $550.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.46 earnings per share. On average, research analysts anticipate that Elevance Health will post 37.26 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on ELV shares. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Mizuho lifted their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and a consensus price target of $601.64.

View Our Latest Stock Analysis on ELV

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

About Elevance Health

(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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Dividend History for Elevance Health (NYSE:ELV)

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