Elevance Health, Inc. Declares Quarterly Dividend of $1.72 (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV) declared a quarterly dividend on Tuesday, July 14th. Investors of record on Thursday, September 10th will be given a dividend of 1.72 per share on Friday, September 25th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th.

Elevance Health has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Elevance Health has a payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Elevance Health to earn $29.11 per share next year, which means the company should continue to be able to cover its $6.88 annual dividend with an expected future payout ratio of 23.6%.

Elevance Health Trading Down 8.7%

Elevance Health stock traded down $36.94 during midday trading on Wednesday, reaching $389.85. 3,896,777 shares of the stock traded hands, compared to its average volume of 1,819,670. The firm has a market cap of $84.66 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $399.37 and a two-hundred day simple moving average of $354.74. Elevance Health has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.18 by $1.27. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.84 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.84 earnings per share. Research analysts expect that Elevance Health will post 26.86 earnings per share for the current fiscal year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.