Anthem, Inc. (NYSE:ANTM) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $204.25 and last traded at $203.97, with a volume of 2,346,046 shares traded. The stock had previously closed at $195.25.
The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.25. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $22.10 billion. Anthem had a return on equity of 12.93% and a net margin of 3.24%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.45 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Tuesday, December 5th will be paid a $0.70 dividend. The ex-dividend date is Monday, December 4th. This represents a $2.80 annualized dividend and a yield of 1.35%. Anthem’s dividend payout ratio is 26.52%.
ANTM has been the topic of a number of recent research reports. Bank of America Corporation increased their target price on Anthem from $224.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. BidaskClub lowered Anthem from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Anthem from a “hold” rating to a “buy” rating and set a $219.00 target price on the stock in a research note on Thursday, August 24th. Cantor Fitzgerald reiterated a “buy” rating and set a $215.00 target price on shares of Anthem in a research note on Thursday, September 14th. Finally, Cowen and Company reiterated a “buy” rating and set a $160.00 target price on shares of Anthem in a research note on Thursday, September 21st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Anthem currently has a consensus rating of “Buy” and a consensus price target of $193.18.
In other Anthem news, insider Joseph Swedish sold 21,125 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $197.00, for a total value of $4,161,625.00. Following the sale, the insider now owns 87,668 shares of the company’s stock, valued at approximately $17,270,596. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas C. Zielinski sold 9,127 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $191.25, for a total value of $1,745,538.75. Following the completion of the sale, the executive vice president now directly owns 26,571 shares in the company, valued at approximately $5,081,703.75. The disclosure for this sale can be found here. Insiders have sold 51,901 shares of company stock worth $10,034,202 in the last three months. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors acquired a new stake in shares of Anthem in the 2nd quarter valued at $128,000. Salem Investment Counselors Inc. boosted its holdings in shares of Anthem by 1.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 710 shares of the company’s stock valued at $134,000 after purchasing an additional 10 shares in the last quarter. Harding Loevner LP acquired a new stake in shares of Anthem in the 2nd quarter valued at $151,000. Krilogy Financial LLC acquired a new stake in shares of Anthem in the 2nd quarter valued at $160,000. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Anthem by 1.7% in the 2nd quarter. Cedar Wealth Management LLC now owns 908 shares of the company’s stock valued at $171,000 after purchasing an additional 15 shares in the last quarter. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
The firm’s 50 day moving average price is $189.74 and its 200 day moving average price is $186.58. The firm has a market cap of $54.33 billion, a PE ratio of 19.57 and a beta of 0.71.
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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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