JPMorgan Chase & Co. Downgrades Anthem Inc. (ANTM) to Neutral
Anthem Inc. (NYSE:ANTM) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday. They presently have a $132.00 target price on the stock, down from their prior target price of $154.00. JPMorgan Chase & Co.’s price target points to a potential upside of 11.60% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Anthem from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Jefferies Group cut shares of Anthem from a “buy” rating to a “hold” rating and lowered their price target for the company from $156.00 to $138.00 in a report on Tuesday, September 13th. Wolfe Research assumed coverage on shares of Anthem in a report on Tuesday, June 28th. They issued a “market perform” rating and a $168.00 price target on the stock. Citigroup Inc. reissued a “buy” rating and issued a $172.00 price target on shares of Anthem in a report on Tuesday, June 21st. Finally, Evercore ISI assumed coverage on shares of Anthem in a report on Thursday, September 22nd. They issued a “hold” rating and a $133.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Anthem has a consensus rating of “Hold” and a consensus target price of $159.81.
Anthem (NYSE:ANTM) traded down 2.32% during midday trading on Monday, reaching $118.28. The company’s stock had a trading volume of 3,201,091 shares. The firm has a 50 day moving average price of $124.69 and a 200-day moving average price of $132.35. Anthem has a 52 week low of $115.63 and a 52 week high of $149.50. The firm has a market cap of $31.13 billion, a P/E ratio of 13.68 and a beta of 0.53.
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Anthem (NYSE:ANTM) last issued its earnings results on Wednesday, July 27th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.23 by $0.10. Anthem had a net margin of 2.83% and a return on equity of 12.16%. The business earned $21.27 billion during the quarter, compared to the consensus estimate of $20.53 billion. During the same period last year, the business posted $3.10 EPS. Anthem’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that Anthem will post $10.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were paid a $0.65 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.60 dividend on an annualized basis and a yield of 2.20%. Anthem’s dividend payout ratio (DPR) is 30.06%.
In other Anthem news, Director William J. Ryan sold 3,125 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $133.15, for a total value of $416,093.75. Following the sale, the director now owns 27,149 shares in the company, valued at $3,614,889.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas C. Zielinski sold 5,254 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $128.83, for a total transaction of $676,872.82. Following the completion of the sale, the executive vice president now owns 17,935 shares in the company, valued at approximately $2,310,566.05. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ANTM. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Anthem by 2.2% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,122 shares of the company’s stock worth $573,000 after buying an additional 90 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Anthem by 46.1% in the first quarter. Canada Pension Plan Investment Board now owns 127,270 shares of the company’s stock worth $17,689,000 after buying an additional 40,138 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Anthem by 5.6% in the first quarter. 1832 Asset Management L.P. now owns 637,529 shares of the company’s stock worth $149,320,000 after buying an additional 33,903 shares in the last quarter. Zebra Capital Management LLC raised its stake in shares of Anthem by 29.9% in the first quarter. Zebra Capital Management LLC now owns 7,907 shares of the company’s stock worth $1,099,000 after buying an additional 1,820 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Anthem by 16.4% in the first quarter. Lazard Asset Management LLC now owns 50,805 shares of the company’s stock worth $7,061,000 after buying an additional 7,170 shares in the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
Anthem, Inc is a health benefit company. The Company offers a range of network-based managed care plans to large and small employer, individual, Medicaid and Medicare markets. The Company has three segments: Commercial and Specialty Business, Government Business and Other. The Company’s Commercial and Specialty Business, and Government Business segments offer managed care products, including preferred provider organizations (PPOs), health maintenance organizations (HMOs), traditional indemnity benefits and point-of-service (POS) plans, as well as various hybrid benefit plans, including consumer-driven health plans (CDHPs), hospital only and limited benefit products.
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