Palo Capital Inc. Cuts Stake in Anthem, Inc. (NYSE:ANTM)

Palo Capital Inc. cut its stake in Anthem, Inc. (NYSE:ANTM) by 0.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 22,155 shares of the company’s stock after selling 153 shares during the period. Anthem makes up 2.4% of Palo Capital Inc.’s investment portfolio, making the stock its 2nd largest position. Palo Capital Inc.’s holdings in Anthem were worth $4,168,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. FTB Advisors Inc. boosted its position in shares of Anthem by 11.1% in the first quarter. FTB Advisors Inc. now owns 668 shares of the company’s stock valued at $117,000 after buying an additional 67 shares during the period. Westside Investment Management Inc. boosted its position in shares of Anthem by 33.6% in the first quarter. Westside Investment Management Inc. now owns 795 shares of the company’s stock valued at $131,000 after buying an additional 200 shares during the period. Focused Wealth Management Inc acquired a new position in shares of Anthem during the first quarter valued at $149,000. Guardian Life Insurance Co. of America boosted its position in shares of Anthem by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,016 shares of the company’s stock valued at $168,000 after buying an additional 7 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of Anthem during the first quarter valued at $181,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Anthem, Inc. (NYSE:ANTM) traded down 0.23% on Monday, hitting $192.12. The stock had a trading volume of 751,198 shares. The company has a market cap of $50.91 billion, a PE ratio of 18.62 and a beta of 0.73. Anthem, Inc. has a 12 month low of $114.85 and a 12 month high of $194.94. The company has a 50-day moving average of $185.31 and a 200 day moving average of $166.86.

Anthem (NYSE:ANTM) last issued its quarterly earnings results on Wednesday, April 26th. The company reported $4.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.85 by $0.83. Anthem had a return on equity of 13.13% and a net margin of 3.19%. The firm had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $21.23 billion. During the same period in the previous year, the business earned $3.46 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Anthem, Inc. will post $11.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, June 7th. Anthem’s payout ratio is 25.22%.

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ANTM has been the subject of several analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $136.00 target price on shares of Anthem in a report on Thursday, May 11th. Morgan Stanley initiated coverage on shares of Anthem in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $196.00 target price for the company. Bank of America Corporation increased their target price on shares of Anthem from $224.00 to $228.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank AG increased their target price on shares of Anthem from $173.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Citigroup Inc. reissued a “buy” rating and issued a $205.00 target price on shares of Anthem in a report on Wednesday, June 28th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $174.26.

In related news, Director Julie A. Hill sold 555 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $180.56, for a total transaction of $100,210.80. Following the completion of the sale, the director now directly owns 37,448 shares in the company, valued at $6,761,610.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 2,681 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $181.58, for a total value of $486,815.98. Following the sale, the director now owns 13,571 shares of the company’s stock, valued at $2,464,222.18. The disclosure for this sale can be found here. Insiders have sold 4,103 shares of company stock valued at $749,555 over the last quarter. 0.36% of the stock is owned by company insiders.

About Anthem

Anthem, Inc is a health benefits company. The Company operates through three segments: Commercial and Specialty Business, Government Business and Other. It offers a spectrum of network-based managed care plans to large and small employer, individual, Medicaid and Medicare markets. Its managed care plans include preferred provider organizations; health maintenance organizations; point-of-service plans; indemnity plans and other hybrid plans, including consumer-driven health plans; and hospital only and limited benefit products.

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Institutional Ownership by Quarter for Anthem (NYSE:ANTM)

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