Schroder Investment Management Group Acquires 10,900 Shares of AmerisourceBergen Corp. (ABC)
Schroder Investment Management Group grew its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 495.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,100 shares of the company’s stock after acquiring an additional 10,900 shares during the period. Schroder Investment Management Group’s holdings in AmerisourceBergen were worth $1,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of AmerisourceBergen by 7.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,187 shares of the company’s stock worth $1,091,000 after purchasing an additional 858 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of AmerisourceBergen by 107.3% in the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after purchasing an additional 2,776,287 shares in the last quarter. Financial Partners Capital Management LLC increased its stake in shares of AmerisourceBergen by 19.1% in the third quarter. Financial Partners Capital Management LLC now owns 21,925 shares of the company’s stock worth $1,814,000 after purchasing an additional 3,517 shares in the last quarter. Fernwood Investment Management LLC increased its stake in shares of AmerisourceBergen by 15.7% in the third quarter. Fernwood Investment Management LLC now owns 14,950 shares of the company’s stock worth $1,237,000 after purchasing an additional 2,025 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of AmerisourceBergen by 13.2% in the third quarter. Great West Life Assurance Co. Can now owns 426,037 shares of the company’s stock worth $34,607,000 after purchasing an additional 49,664 shares in the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.
A number of brokerages have recently issued reports on ABC. Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 10th. Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Sunday, October 29th. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Goldman Sachs Group raised shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a research note on Friday. Finally, Robert W. Baird set a $99.00 target price on shares of AmerisourceBergen and gave the company a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $93.20.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same quarter last year, the business earned $1.30 earnings per share. AmerisourceBergen’s quarterly revenue was up 4.2% compared to the same quarter last year. equities research analysts forecast that AmerisourceBergen Corp. will post 6.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 17th. This represents a $1.52 annualized dividend and a yield of 1.63%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is 82.16%.
In other AmerisourceBergen news, SVP Lazarus Krikorian sold 16,427 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the transaction, the senior vice president now owns 23,360 shares in the company, valued at $1,982,329.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $74.28, for a total transaction of $861,648.00. Following the completion of the sale, the chief financial officer now owns 40,326 shares of the company’s stock, valued at approximately $2,995,415.28. The disclosure for this sale can be found here. Insiders have sold 191,207 shares of company stock valued at $15,612,018 in the last quarter. 27.40% of the stock is owned by company insiders.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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