Investors 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 equities 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, insider Joseph Swedish sold 21,125 shares of Anthem stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $209.85, for a total value of $4,433,081.25. Following the completion of the transaction, the insider now owns 87,668 shares in the company, valued at $18,397,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gloria M. Mccarthy sold 14,429 shares of Anthem stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $229.68, for a total transaction of $3,314,052.72. Following the completion of the transaction, the executive vice president now owns 30,667 shares of the company’s stock, valued at approximately $7,043,596.56. The disclosure for this sale can be found here. Insiders sold 59,259 shares of company stock valued at $13,194,281 in the last quarter. 0.36% of the stock is owned by insiders.

ANTM has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $215.00 price target on shares of Anthem in a research note on Wednesday, October 18th. Cowen restated a “buy” rating and set a $160.00 price objective on shares of Anthem in a research report on Thursday, September 21st. Zacks Investment Research upgraded shares of Anthem from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research report on Wednesday, September 20th. BidaskClub upgraded shares of Anthem from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Finally, Bank of America boosted their price objective on shares of Anthem from $249.00 to $254.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $206.60.

The firm has a market cap of $60,250.00, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.51 and a quick ratio of 1.51.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Tuesday, December 5th were issued a $0.70 dividend. The ex-dividend date was Monday, December 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. Anthem’s payout ratio is 25.32%.

Anthem declared that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. increased its holdings in shares of Anthem by 0.5% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,070 shares of the company’s stock valued at $201,000 after acquiring an additional 5 shares during the period. Salem Investment Counselors Inc. increased 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 acquiring an additional 10 shares during the period. Gofen & Glossberg LLC IL increased its holdings in shares of Anthem by 0.6% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 2,540 shares of the company’s stock valued at $478,000 after acquiring an additional 15 shares during the period. Bahl & Gaynor Inc. increased its holdings in shares of Anthem by 11.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,451 shares of the company’s stock valued at $209,000 after acquiring an additional 145 shares during the period. Finally, Sii Investments Inc. WI increased its holdings in shares of Anthem by 5.4% in the 2nd quarter. Sii Investments Inc. WI now owns 2,860 shares of the company’s stock valued at $537,000 after acquiring an additional 147 shares during the period. 87.41% of the stock is currently owned by institutional investors and hedge funds.

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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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