Traders Sell Shares of Anthem (ANTM) on Strength Following Insider Selling
Traders sold shares of Anthem Inc (NYSE:ANTM) on strength during trading hours on Tuesday after an insider sold shares in the company. $72.97 million flowed into the stock on the tick-up and $127.44 million flowed out of the stock on the tick-down, for a money net flow of $54.47 million out of the stock. Of all equities tracked, Anthem had the 0th highest net out-flow for the day. Anthem traded up $2.84 for the day and closed at $234.66Specifically, EVP Gloria M. Mccarthy sold 14,429 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $229.68, for a total value of $3,314,052.72. Following the transaction, the executive vice president now owns 30,667 shares in the company, valued at $7,043,596.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Swedish sold 21,125 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was 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 approximately $18,397,129.80. The disclosure for this sale can be found here. Insiders sold 59,259 shares of company stock worth $13,194,281 in the last 90 days. 0.36% of the stock is owned by company insiders.
Several research firms recently weighed in on ANTM. B. Riley reaffirmed a “buy” rating on shares of Anthem in a research note on Wednesday, December 6th. Zacks Investment Research lowered Anthem from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Leerink Swann reaffirmed an “outperform” rating on shares of Anthem in a research note on Tuesday, November 7th. BidaskClub lowered Anthem from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Anthem in a research note on Wednesday, October 18th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $206.60.
The stock has a market capitalization of $60,250.00, a P/E ratio of 21.22, a P/E/G ratio of 1.70 and a beta of 0.79. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.53.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Tuesday, December 5th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, December 4th. Anthem’s payout ratio is 25.32%.
Anthem announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in ANTM. First Interstate Bank boosted its stake in shares of 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 in the last quarter. Captrust Financial Advisors acquired a new position in shares of Anthem in the second quarter worth approximately $128,000. Salem Investment Counselors Inc. lifted its stake in shares of Anthem by 1.4% in the second quarter. Salem Investment Counselors Inc. now owns 710 shares of the company’s stock worth $134,000 after acquiring an additional 10 shares during the period. Harding Loevner LP acquired a new position in shares of Anthem in the second quarter worth approximately $151,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Anthem in the third quarter worth approximately $154,000. 87.41% of the stock is currently owned by hedge funds and other institutional investors.
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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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