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

Elevance Health, Inc. (NYSE:ELV) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63.

Elevance Health has raised 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 payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Elevance Health to earn $34.57 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 Trading Up 0.0 %

ELV opened at $401.43 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health has a 52 week low of $362.21 and a 52 week high of $567.26. The business has a fifty day simple moving average of $386.20 and a 200-day simple moving average of $463.21.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 net margin of 3.68% and a return on equity of 19.56%. On average, equities analysts expect that Elevance Health will post 32.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ELV shares. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday. UBS Group dropped their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

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.