By Emily Dattilo
Shares of Elevance Health were gaining after the health insurer turned in a strong quarter and increased its quarterly dividend.
Elevance Health stock rose 4.4% to $408.03 in premarket trading Thursday. Insurance peers also traded higher. UnitedHealth Group gained 1.4%, Humana rose 1.4%, and Centene added 1.5%.
For its fourth quarter, Elevance reported adjusted earnings of $3.84 a share, beating Wall Street's call for $3.81, according to FactSet. Operating revenue of $44.99 billion was above the consensus call for $44.92 billion.
"Our fourth-quarter results demonstrate tangible progress in improving our operations in response to the dynamic environment facing the industry," said CEO Gail Boudreaux in a press release. For fiscal 2025, the company said it expects adjusted earnings per share between $34.15 and $34.85, while analysts had penciled in $34.56.
Elevance increased its quarterly dividend by 5% to $1.71 a share.
Write to Emily Dattilo at emily.dattilo@dowjones.com
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(END) Dow Jones Newswires
January 23, 2025 07:35 ET (12:35 GMT)
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