Traders Buy Shares of Anthem (ANTM) on Weakness After Insider Selling

Investors purchased shares of Anthem Inc (NYSE:ANTM) on weakness during trading on Monday after an insider sold shares in the company. $129.27 million flowed into the stock on the tick-up and $81.42 million flowed out of the stock on the tick-down, for a money net flow of $47.85 million into the stock. Of all stocks tracked, Anthem had the 29th highest net in-flow for the day. Anthem traded down ($2.52) for the day and closed at $231.82Specifically, EVP Gloria M. Mccarthy sold 14,429 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $229.68, for a total transaction of $3,314,052.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ronald W. Penczek sold 978 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $217.42, for a total transaction of $212,636.76. Following the sale, the senior vice president now directly owns 1,222 shares of the company’s stock, valued at $265,687.24. The disclosure for this sale can be found here. Insiders sold a total of 59,259 shares of company stock valued at $13,194,281 over the last three months. 0.36% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on ANTM. Zacks Investment Research downgraded Anthem from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub upgraded Anthem from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Morgan Stanley upped their target price on Anthem from $201.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Bank of America upped their target price on Anthem from $249.00 to $254.00 and gave the company a “buy” rating in a report on Friday, November 17th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Anthem in a report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $206.60.

The firm has a market capitalization of $59,520.00, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.70 and a beta of 0.79. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.53.

Anthem (NYSE:ANTM) last released its quarterly earnings data on Wednesday, October 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.25. Anthem had a return on equity of 12.97% and a net margin of 3.35%. The firm had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. analysts forecast that Anthem Inc will post 11.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Tuesday, December 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.21%. Anthem’s dividend payout ratio is currently 25.32%.

Anthem declared that its board has approved a share repurchase program on Thursday, December 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Large investors have recently added to or reduced their stakes in the stock. First Interstate Bank grew its holdings in Anthem by 1,910.7% during the third quarter. First Interstate Bank now owns 563 shares of the company’s stock valued at $107,000 after purchasing an additional 535 shares during the last quarter. Captrust Financial Advisors acquired a new position in Anthem during the second quarter valued at approximately $128,000. Salem Investment Counselors Inc. grew its holdings in Anthem by 1.4% during the second quarter. Salem Investment Counselors Inc. now owns 710 shares of the company’s stock valued at $134,000 after purchasing an additional 10 shares during the last quarter. Harding Loevner LP acquired a new position in Anthem during the second quarter valued at approximately $151,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in Anthem during the third quarter valued at approximately $154,000. Hedge funds and other institutional investors own 87.41% of the company’s stock.

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Anthem Company Profile

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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