Kinsale Capital Group Inc. Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Kinsale Capital Group Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 15.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,828 shares of the medical research company’s stock after purchasing an additional 2,731 shares during the quarter. Amgen comprises approximately 2.0% of Kinsale Capital Group Inc.’s portfolio, making the stock its 16th biggest position. Kinsale Capital Group Inc.’s holdings in Amgen were worth $6,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Meyer Handelman Co. grew its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after buying an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. increased its holdings in Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after acquiring an additional 3,260 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in shares of Amgen during the 2nd quarter worth approximately $3,354,000. Finally, Verity & Verity LLC raised its holdings in shares of Amgen by 2.7% in the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 4.2 %

Shares of NASDAQ AMGN traded down $12.32 during trading hours on Friday, hitting $283.61. The stock had a trading volume of 5,325,131 shares, compared to its average volume of 2,453,793. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market capitalization of $152.45 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The firm’s 50-day moving average price is $320.85 and its two-hundred day moving average price is $318.05.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.17%. Amgen’s dividend payout ratio is 115.24%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMGN shares. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $333.57.

View Our Latest Analysis on AMGN

About Amgen

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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