Elevance Health, Inc. (ELV) To Go Ex-Dividend on June 10th

Elevance Health, Inc. (NYSE:ELV) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be paid a dividend of 1.63 per share on Tuesday, June 25th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th.

Elevance Health has increased its dividend payment by an average of 15.9% 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 15.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Elevance Health to earn $41.46 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 Stock Performance

Shares of ELV opened at $531.42 on Friday. Elevance Health has a 1 year low of $412.00 and a 1 year high of $539.11. The company has a market cap of $123.66 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.44 and a current ratio of 1.37. The firm has a fifty day moving average of $509.14 and a 200-day moving average of $483.57.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the previous year, the business earned $9.46 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health will post 37.2 earnings per share for the current year.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Elevance Health during the 4th quarter worth about $30,000. Hobbs Group Advisors LLC acquired a new stake in Elevance Health during the 4th quarter worth about $120,000. SageView Advisory Group LLC raised its holdings in Elevance Health by 109.2% during the 4th quarter. SageView Advisory Group LLC now owns 1,416 shares of the company’s stock worth $697,000 after buying an additional 739 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in Elevance Health during the 4th quarter worth about $591,000. Finally, Childress Capital Advisors LLC grew its stake in Elevance Health by 4.4% during the 4th quarter. Childress Capital Advisors LLC now owns 634 shares of the company’s stock valued at $299,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday. Jefferies Financial Group lifted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $584.50.

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.