Kinsale Capital Group Inc. Acquires New Position in Amgen Inc. (NASDAQ:AMGN)

Kinsale Capital Group Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGN – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,510 shares of the medical research company’s stock, valued at approximately $397,000. Amgen accounts for 0.3% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edmp Inc. raised its position in shares of Amgen by 25,517.5% in the fourth quarter. Edmp Inc. now owns 4,540,446 shares of the medical research company’s stock valued at $17,288,000 after buying an additional 4,522,722 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Amgen by 2.8% in the third quarter. Vanguard Group Inc. now owns 47,459,511 shares of the medical research company’s stock valued at $10,697,373,000 after buying an additional 1,310,894 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Amgen by 164.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock valued at $323,548,000 after buying an additional 832,885 shares during the last quarter. Capital Wealth Planning LLC grew its holdings in Amgen by 26,465.1% in the fourth quarter. Capital Wealth Planning LLC now owns 806,251 shares of the medical research company’s stock valued at $211,754,000 after purchasing an additional 803,216 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Amgen by 84.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,201,655 shares of the medical research company’s stock valued at $270,853,000 after purchasing an additional 550,439 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMGN shares. Oppenheimer decreased their price objective on shares of Amgen from $292.00 to $290.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Credit Suisse Group decreased their target price on shares of Amgen from $240.00 to $220.00 and set an “underperform” rating for the company in a research note on Wednesday, February 1st. Argus decreased their target price on shares of Amgen from $300.00 to $270.00 in a research note on Monday, February 6th. Royal Bank of Canada decreased their target price on shares of Amgen from $268.00 to $258.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 1st. Finally, BMO Capital Markets decreased their target price on shares of Amgen from $276.00 to $253.00 and set a “market perform” rating for the company in a research note on Wednesday, February 1st. Four analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $250.94.

Amgen Trading Down 0.4 %

Shares of AMGN stock traded down $0.85 during mid-day trading on Friday, reaching $216.61. 1,548,057 shares of the stock traded hands, compared to its average volume of 2,328,275. The stock’s fifty day simple moving average is $238.03 and its two-hundred day simple moving average is $252.92. Amgen Inc. has a 1-year low of $214.48 and a 1-year high of $296.67. The company has a market cap of $115.74 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.75 and a beta of 0.64. The company has a quick ratio of 2.79, a current ratio of 3.14 and a debt-to-equity ratio of 11.36.

Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The medical research company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.84 by $0.14. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.18 billion. Amgen had a return on equity of 248.47% and a net margin of 30.23%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $4.25 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 18.12 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be issued a $2.13 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $8.52 dividend on an annualized basis and a yield of 3.93%. Amgen’s payout ratio is currently 57.92%.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.