Elevance Health, Inc. (ELV) To Go Ex-Dividend on December 5th

Elevance Health, Inc. (NYSE:ELV) announced a quarterly dividend on Tuesday, October 15th,Wall Street Journal reports. Investors of record on Thursday, December 5th will be given a dividend of 1.63 per share on Friday, December 20th. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, December 5th.

Elevance Health has increased its dividend by an average of 15.9% per year over the last three years and has increased its dividend every year for the last 13 years. Elevance Health has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Elevance Health to earn $35.35 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 18.4%.

Elevance Health Trading Up 0.8 %

Elevance Health stock opened at $410.39 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health has a 12 month low of $391.02 and a 12 month high of $567.26. The company has a market capitalization of $95.18 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.21 and a beta of 0.83. The business’s fifty day simple moving average is $446.87 and its two-hundred day simple moving average is $504.13.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.99 EPS. As a group, equities analysts predict that Elevance Health will post 32.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on ELV shares. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.