Elevance Health, Inc. (NYSE:ELV) Announces 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 given a dividend of 1.71 per share on Tuesday, March 25th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63.

Elevance Health has increased its dividend by an average of 13.0% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Elevance Health has a dividend payout ratio of 16.3% 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 Stock Performance

NYSE ELV opened at $390.21 on Thursday. The company has a market capitalization of $90.50 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.10 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a fifty day simple moving average of $386.32 and a 200 day simple moving average of $463.64.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELV. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Morgan Stanley dropped their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $524.87.

Elevance Health Company Profile

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.