Principal Financial Group Inc. Has $218.65 Million Holdings in Amgen, Inc. (AMGN)
Principal Financial Group Inc. lessened its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,172,675 shares of the medical research company’s stock after selling 44,375 shares during the quarter. Principal Financial Group Inc.’s holdings in Amgen were worth $218,645,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Shelton Capital Management boosted its position in shares of Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after purchasing an additional 49,354 shares in the last quarter. Westover Capital Advisors LLC boosted its position in shares of Amgen by 5.0% during the first quarter. Westover Capital Advisors LLC now owns 9,692 shares of the medical research company’s stock worth $1,590,000 after purchasing an additional 460 shares in the last quarter. Fiduciary Trust Co. boosted its position in shares of Amgen by 12.7% during the first quarter. Fiduciary Trust Co. now owns 82,260 shares of the medical research company’s stock worth $13,497,000 after purchasing an additional 9,261 shares in the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund boosted its position in shares of Amgen by 6.7% during the first quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund now owns 24,240 shares of the medical research company’s stock worth $3,977,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Amgen by 83.2% during the first quarter. Brighton Jones LLC now owns 2,642 shares of the medical research company’s stock worth $433,000 after purchasing an additional 1,200 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $180.60 on Tuesday. The company has a market cap of $131,100.00, a price-to-earnings ratio of 16.31, a P/E/G ratio of 2.60 and a beta of 1.36. Amgen, Inc. has a 52-week low of $150.38 and a 52-week high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72.
Amgen announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 2.92%. The ex-dividend date is Wednesday, February 14th. Amgen’s payout ratio is currently 41.55%.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the sale, the executive vice president now directly owns 57,631 shares in the company, valued at $9,888,326.98. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock worth $1,225,765 over the last ninety days. 0.19% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on AMGN shares. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research report on Friday, October 27th. Bank of America lifted their price target on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Barclays lifted their price target on shares of Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Royal Bank of Canada started coverage on shares of Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target on the stock. Finally, Cann reissued a “buy” rating and set a $203.00 price target on shares of Amgen in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $190.15.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).
Receive News & Stock Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related stocks with our FREE daily email newsletter.