How have hedge funds been trading Anthem Inc (NYSE:ANTM)?
At the end of the first quarter of 2015, a total of 51 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -9% from one quarter earlier.
Glenview Capital managed by Larry Robbins was the hedge fund with the largest stake in Anthem Inc (NYSE:ANTM), it being worth about $755.62 million or 3.45% of the fund’s entire portfolio. This is an increase of 37% quarter-over-quarter. Second is First Eagle Investment Management managed by Jean-Marie Eveillard, which owned about $453.98 million worth of shares. Other large shareholders are Yacktman Asset Management managed by Donald Yacktman, and AQR Capital Management managed by Cliff Asness.
There were also hedge funds which were placing large new bets on Anthem Inc (NYSE:ANTM) by the end of the first quarter. David Harding’s Winton Capital Management increased its stake by 54% quarter-over-quarter to 867,502 shares worth about $133.95 million. This is 1.06% of the fund’s portfolio. Jacob Gottlieb’s Visium Asset Management also boosted its stake in Anthem Inc by the end of the first quarter of 2015, by 19% quarter-over-quarter to 760,227 shares worth about $117.39 million and 1.73% of the fund’s portfolio.
Though the number of hedge funds which held long positions in Anthem decreased last quarter, the total value of hedge fund holdings in the company among the funds tracked by Insider Monkey increased to $3.15 billion from $3.07 billion, a bullish sign based on our experience, if only the stock price did not move. However, with shares of the company increasing over 20% during the first quarter of 2015, hedge funds actually sold off nearly 20% of their positions in Anthem. Taking all of these factors into account, the already heavy appreciation of Anthem’s shares this year, and seeming distaste Cigna has towards being acquired, we don’t recommend taking a long position in Anthem Inc (NYSE:ANTM) at this time.