Elevance Health, Inc. said on April 19, 2023 that its board of directors declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Previously, the company paid $1.48 per share.
Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 23, 2023.
At the current share price of $457.33 / share, the stock's dividend yield is 1.29%. Looking back five years and taking a sample every week, the average dividend yield has been 1.19%, the lowest has been 0.94%, and the highest has been 2.18%. The standard deviation of yields is 0.16 (n=236).
The current dividend yield is 0.65 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.56%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 2773 funds or institutions reporting positions in Elevance Health, Inc.. This is an increase of 119 owner(s) or 4.48% in the last quarter. Average portfolio weight of all funds dedicated to ELV is 0.59%, a decrease of 7.66%. Total shares owned by institutions decreased in the last three months by 0.64% to 241,360K shares. 
The put/call ratio of ELV is 0.87, indicating a bullish outlook.
Analyst Price Forecast Suggests 28.25% Upside
As of April 6, 2023, the average one-year price target for Elevance Health, Inc. is $586.54. The forecasts range from a low of $505.00 to a high of $651.00. The average price target represents an increase of 28.25% from its latest reported closing price of $457.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elevance Health, Inc. is $165,476MM, an increase of 2.99%. The projected annual non-GAAP EPS is $33.02.
What are Other Shareholders Doing?
JNL SERIES TRUST - JNL holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
PARUS FINANCE holds 18K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 19K shares, representing a decrease of 2.67%. The firm decreased its portfolio allocation in ELV by 13.96% over the last quarter.
Heritage Wealth Advisors holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing an increase of 2.07%. The firm decreased its portfolio allocation in ELV by 7.95% over the last quarter.
Global Trust Asset Management holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing a decrease of 0.36%. The firm decreased its portfolio allocation in ELV by 15.67% over the last quarter.
Penserra Capital Management holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 1K shares, representing an increase of 7.94%. The firm decreased its portfolio allocation in ELV by 99.96% over the last quarter.
Elevance Health Background Information
(This description is provided by the company.)
Anthem is a leading health benefits company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves more than 110 million people, including approximately 43 million within its family of health plans. We aim to be the most innovative, valuable and inclusive partner.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
