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

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

Elevance Health has increased its dividend payment by an average of 0.1%annually over the last three years and has raised 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. Equities 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 Stock Performance

Shares of NYSE ELV traded down $36.94 during midday trading on Wednesday, hitting $389.85. 3,896,777 shares of the stock traded hands, compared to its average volume of 1,819,670. The firm has a 50-day moving average of $399.37 and a two-hundred day moving average of $354.74. The firm has a market capitalization of $84.66 billion, a P/E ratio of 16.58, a PEG ratio of 2.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health has a one year low of $273.71 and a one year high of $436.24.

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

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Elevance Health in the 4th quarter worth $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health during the fourth quarter valued at about $32,000. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

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.