Elevance Health, Inc. (NYSE:ELV – Get Free Report) declared a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th.
Elevance Health has raised its dividend payment by an average of 15.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Elevance Health has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Elevance Health to earn $41.65 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 Price Performance
Shares of NYSE ELV opened at $430.77 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market cap of $100.12 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a fifty day simple moving average of $526.74 and a two-hundred day simple moving average of $527.66.
Analyst Ratings Changes
Several research firms have recently issued reports on ELV. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday. TD Cowen dropped their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday. Finally, Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $572.27.
Get Our Latest Stock Analysis on Elevance Health
Insider Activity at Elevance Health
In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,170 shares of company stock valued at $20,638,737. 0.35% of the stock is owned by insiders.
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.
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