Elevance Health, Inc. (ELV) to Issue Quarterly Dividend of $1.72 on September 25th

Elevance Health, Inc. (NYSE:ELV) announced a quarterly dividend on Tuesday, July 14th. Shareholders of record on Thursday, September 10th will be paid 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 of this dividend is Thursday, September 10th.

Elevance Health has raised its dividend payment by an average of 0.1%annually 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE ELV opened at $389.85 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $399.67 and a 200-day simple moving average of $355.07. The company has a market cap of $84.66 billion, a PE ratio of 16.58, a P/E/G ratio of 2.42 and a beta of 0.67. Elevance Health has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $8.84 EPS. On average, equities research analysts forecast that Elevance Health will post 26.86 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELV. Truist Financial lifted their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America increased their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Leerink Partners set a $364.00 price objective on shares of Elevance Health in a report on Thursday, April 23rd. Fifteen 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, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $435.05.

About Elevance Health

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.