BidaskClub Lowers Anthem, Inc. (ANTM) to Hold
BidaskClub downgraded shares of Anthem, Inc. (NYSE:ANTM) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Anthem from a hold rating to a buy rating and set a $212.00 price objective on the stock in a research note on Thursday. Jefferies Group LLC restated a hold rating and issued a $204.00 price objective on shares of Anthem in a research note on Sunday, August 20th. Morgan Stanley upped their price objective on Anthem from $196.00 to $201.00 and gave the company an equal weight rating in a research note on Thursday, August 17th. Cantor Fitzgerald restated an overweight rating and issued a $215.00 price objective (up previously from $210.00) on shares of Anthem in a research note on Wednesday, July 26th. Finally, Bank of America Corporation upped their price objective on Anthem from $224.00 to $228.00 and gave the company a buy rating in a research note on Friday, July 14th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $183.44.
Shares of Anthem (ANTM) opened at 186.59 on Friday. The firm has a 50-day moving average price of $191.81 and a 200-day moving average price of $181.77. The firm has a market cap of $49.00 billion, a price-to-earnings ratio of 17.64 and a beta of 0.70. Anthem has a 12-month low of $114.85 and a 12-month high of $198.98.
Anthem (NYSE:ANTM) last released its quarterly earnings data on Wednesday, July 26th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.25 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 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.33 earnings per share. Equities research analysts anticipate that Anthem will post $11.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a yield of 1.50%. This is an increase from Anthem’s previous quarterly dividend of $0.65. Anthem’s dividend payout ratio is currently 26.52%.
In related news, insider Joseph Swedish sold 21,125 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $197.00, for a total transaction of $4,161,625.00. Following the sale, the insider now owns 87,668 shares of the company’s stock, valued at $17,270,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas C. Zielinski sold 9,127 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $191.25, for a total value of $1,745,538.75. Following 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 30,776 shares of company stock worth $6,007,143 in the last three months. 0.36% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Anthem by 177.3% during the second quarter. JPMorgan Chase & Co. now owns 1,269,249 shares of the company’s stock worth $238,783,000 after buying an additional 811,537 shares in the last quarter. Swiss National Bank grew its position in Anthem by 3.3% during the second quarter. Swiss National Bank now owns 1,026,741 shares of the company’s stock worth $193,161,000 after buying an additional 32,900 shares in the last quarter. Deschutes Portfolio Strategy LLC acquired a new stake in Anthem during the second quarter worth approximately $273,000. Endurant Capital Management LP grew its position in Anthem by 99.6% during the first quarter. Endurant Capital Management LP now owns 56,098 shares of the company’s stock worth $9,277,000 after buying an additional 27,998 shares in the last quarter. Finally, Union Bankshares Corp grew its position in Anthem by 1.4% during the second quarter. Union Bankshares Corp now owns 3,619 shares of the company’s stock worth $681,000 after buying an additional 49 shares in the last quarter. 87.69% of the stock is currently owned by institutional investors and hedge funds.
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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