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

Elevance Health, Inc. (NYSE:ELV) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Monday, March 10th will be paid a dividend of 1.71 per share on Tuesday, March 25th. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63.

Elevance Health has raised its dividend payment by an average of 13.0% annually over the last three years and has raised its dividend every year for the last 13 years. Elevance Health has a dividend payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Elevance Health to earn $34.58 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 18.9%.

Elevance Health Price Performance

Shares of ELV opened at $401.20 on Friday. The stock has a market cap of $93.05 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm’s 50-day simple moving average is $386.32 and its two-hundred day simple moving average is $463.64.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Analysts anticipate that Elevance Health will post 32.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELV. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday. Cantor Fitzgerald cut their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.87.

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.