Elevance Health, Inc. (NYSE:ELV) Shareholders to Get $1.72 Quarterly Dividend

Elevance Health, Inc. (NYSE:ELV) announced a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, December 4th will be given a dividend of $1.72 per share on Friday, December 18th. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, December 4th.

Elevance Health has increased its dividend 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 $29.41 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 23.4%.

Elevance Health Price Performance

Shares of ELV stock traded down $4.92 during mid-day trading on Wednesday, reaching $435.26. The stock had a trading volume of 2,474,596 shares, compared to its average volume of 1,606,289. Elevance Health has a 12-month low of $274.84 and a 12-month high of $450.69. The company has a market cap of $94.39 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.70. The business has a 50-day simple moving average of $405.84 and a 200 day simple moving average of $388.57. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.71 by $2.28. The business had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.22 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.03 EPS. On average, sell-side analysts anticipate that Elevance Health will post 27.20 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELV. Canoe Financial LP raised its position in Elevance Health by 0.3% in the third quarter. Canoe Financial LP now owns 364,526 shares of the company’s stock worth $139,129,000 after acquiring an additional 1,022 shares in the last quarter. 365 WMG Private Fund I Primus Fund LLC acquired a new stake in Elevance Health in the 3rd quarter valued at about $930,000. Pinnacle Associates Ltd. lifted its holdings in Elevance Health by 7.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,922 shares of the company’s stock valued at $1,136,000 after acquiring an additional 201 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Elevance Health by 94.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 332,778 shares of the company’s stock valued at $129,391,000 after purchasing an additional 161,278 shares in the last quarter. Finally, Revisor Wealth Management LLC grew its stake in shares of Elevance Health by 6.6% in the 3rd quarter. Revisor Wealth Management LLC now owns 4,404 shares of the company’s stock worth $1,801,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.