Louisiana State Employees Retirement System Cuts Holdings in Allergan plc (AGN)
Louisiana State Employees Retirement System cut its stake in Allergan plc (NYSE:AGN) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,100 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Allergan were worth $3,288,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Factory Mutual Insurance Co. grew its stake in shares of Allergan by 8.0% during the fourth quarter. Factory Mutual Insurance Co. now owns 616,600 shares of the company’s stock valued at $100,864,000 after acquiring an additional 45,500 shares in the last quarter. First Command Financial Services Inc. grew its stake in shares of Allergan by 605.1% during the fourth quarter. First Command Financial Services Inc. now owns 1,375 shares of the company’s stock valued at $225,000 after acquiring an additional 1,180 shares in the last quarter. Hikari Power Ltd grew its stake in shares of Allergan by 26.8% during the fourth quarter. Hikari Power Ltd now owns 90,500 shares of the company’s stock valued at $14,804,000 after acquiring an additional 19,100 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of Allergan during the fourth quarter valued at about $153,000. Finally, VNBTrust National Association grew its stake in shares of Allergan by 117.2% during the fourth quarter. VNBTrust National Association now owns 3,466 shares of the company’s stock valued at $567,000 after acquiring an additional 1,870 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors.
Allergan plc (NYSE:AGN) opened at $178.66 on Wednesday. The company has a market capitalization of $58,550.00, a PE ratio of -7.91, a P/E/G ratio of 1.30 and a beta of 1.11. Allergan plc has a 52 week low of $160.07 and a 52 week high of $256.80. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40.
Allergan declared that its Board of Directors has approved a share buyback plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Allergan news, insider William Meury sold 11,807 shares of Allergan stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher J. Coughlin bought 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was bought at an average price of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is currently owned by insiders.
AGN has been the subject of several recent analyst reports. Cowen restated a “buy” rating on shares of Allergan in a research note on Thursday, October 12th. UBS Group restated a “buy” rating and set a $275.00 target price on shares of Allergan in a research note on Tuesday, September 26th. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a research note on Monday, October 2nd. Mizuho reiterated a “buy” rating and issued a $267.00 price target on shares of Allergan in a research note on Monday, September 25th. Finally, Citigroup reiterated a “buy” rating and issued a $280.00 price target on shares of Allergan in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Allergan presently has an average rating of “Hold” and an average target price of $226.95.
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Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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