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

Traders purchased shares of Anthem Inc (NYSE:ANTM) on weakness during trading on Friday after an insider sold shares in the company. $219.40 million flowed into the stock on the tick-up and $77.78 million flowed out of the stock on the tick-down, for a money net flow of $141.62 million into the stock. Of all equities tracked, Anthem had the 8th highest net in-flow for the day. Anthem traded down ($2.10) for the day and closed at $290.07Specifically, EVP Peter D. Haytaian sold 2,936 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $270.00, for a total transaction of $792,720.00. Following the transaction, the executive vice president now directly owns 58,642 shares of the company’s stock, valued at $15,833,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 763 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $265.56, for a total transaction of $202,622.28. Following the transaction, the chief accounting officer now directly owns 1,334 shares in the company, valued at $354,257.04. The disclosure for this sale can be found here. Insiders have sold 24,525 shares of company stock worth $6,810,963 over the last ninety days. Insiders own 0.31% of the company’s stock.

Several brokerages have recently commented on ANTM. Barclays reaffirmed an “overweight” rating and set a $300.00 target price (up from $270.00) on shares of Anthem in a report on Thursday, November 1st. BMO Capital Markets raised their target price on shares of Anthem from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, November 1st. Cowen assumed coverage on shares of Anthem in a report on Monday, September 17th. They set an “outperform” rating and a $318.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Anthem to $318.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Finally, Morgan Stanley raised shares of Anthem from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $273.00 to $368.00 in a research note on Wednesday, September 5th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Anthem has a consensus rating of “Buy” and an average target price of $294.73.

The company has a market cap of $75.57 billion, a PE ratio of 24.09, a P/E/G ratio of 1.50 and a beta of 0.86. The company has a current ratio of 1.53, a quick ratio of 1.54 and a debt-to-equity ratio of 0.59.

Anthem (NYSE:ANTM) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.11. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $22.85 billion. Anthem had a net margin of 4.98% and a return on equity of 13.99%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $2.65 earnings per share. Equities analysts anticipate that Anthem Inc will post 15.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, December 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.03%. Anthem’s payout ratio is presently 24.92%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Anthem during the third quarter worth $108,000. Legacy Advisors LLC bought a new stake in shares of Anthem during the third quarter worth $113,000. JNBA Financial Advisors bought a new stake in shares of Anthem during the third quarter worth $134,000. Flagship Harbor Advisors LLC bought a new stake in shares of Anthem during the second quarter worth $120,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Anthem during the third quarter worth $140,000. 87.59% of the stock is currently owned by hedge funds and other institutional investors.

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About Anthem (NYSE:ANTM)

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through three segments: Commercial & Specialty Business, Government Business, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small group, individual, Medicaid, and Medicare markets.

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