On March 28, 2023,
RBC Capital
upgraded
their outlook for Elevance Health, Inc. (NYSE:ELV) from Sector Perform to Outperform.
Analyst Price Forecast Suggests 29.15% Upside
As of March 27, 2023,
the average one-year price target for Elevance Health, Inc. is $592.21.
The forecasts range from a low of $505.00 to a high of $651.00.
The average price target represents an increase of 29.15% from its latest reported closing price of $458.53.
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 5.67%.
The projected annual non-GAAP EPS
is $33.02.
Elevance Health, Inc. Declares $1.48 Dividend
On January 25, 2023 the company declared a regular
quarterly dividend of $1.48 per share ($5.92 annualized).
Shareholders of record as of March 10, 2023
received the payment on March 24, 2023.
Previously, the company paid $1.28 per share.
At the current share price of $458.53 / 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
0.61 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.
What are Large Shareholders Doing?
Price T Rowe Associates
holds 12,726K shares
representing 5.36% ownership of the company.
In it’s prior filing, the firm reported owning 10,746K shares, representing
an increase
of 15.56%.
The firm
increased
its portfolio allocation in ELV by 31.30% over the last quarter.
Wellington Management Group Llp
holds 8,782K shares
representing 3.70% ownership of the company.
In it’s prior filing, the firm reported owning 9,201K shares, representing
a decrease
of 4.77%.
The firm
increased
its portfolio allocation in ELV by 1.47% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 7,259K shares
representing 3.06% ownership of the company.
In it’s prior filing, the firm reported owning 7,157K shares, representing
an increase
of 1.40%.
The firm
increased
its portfolio allocation in ELV by 5.77% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 5,521K shares
representing 2.33% ownership of the company.
In it’s prior filing, the firm reported owning 5,441K shares, representing
an increase
of 1.46%.
The firm
increased
its portfolio allocation in ELV by 5.58% over the last quarter.
Capital International Investors
holds 5,482K shares
representing 2.31% ownership of the company.
In it’s prior filing, the firm reported owning 6,671K shares, representing
a decrease
of 21.68%.
The firm
decreased
its portfolio allocation in ELV by 14.59% over the last quarter.
What is the Fund Sentiment?
There are 2779 funds or institutions reporting positions in Elevance Health, Inc..
This is an increase
of
144
owner(s) or 5.46% in the last quarter.
Average portfolio weight of all funds dedicated to ELV is 0.57%,
a decrease
of 12.83%.
Total shares owned by institutions decreased
in the last three months by 0.11% to 242,606K shares.
The put/call ratio of ELV is 0.97, indicating a
bullish
outlook.
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.
