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

Kinsale Capital Group Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,828 shares of the medical research company’s stock after purchasing an additional 2,731 shares during the quarter. Amgen accounts for about 2.0% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Kinsale Capital Group Inc.’s holdings in Amgen were worth $6,711,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Keynote Financial Services LLC grew its stake in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC grew its position in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares in the last quarter. Cadinha & Co. LLC boosted its position in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares in the last quarter. Finally, Lansing Street Advisors raised its stake in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 4.2 %

Shares of AMGN stock traded down $12.32 during trading on Friday, reaching $283.61. The company’s stock had a trading volume of 5,325,131 shares, compared to its average volume of 2,453,793. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The stock’s 50-day moving average price is $320.85 and its 200 day moving average price is $318.05. The company has a market capitalization of $152.45 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently announced 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 is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. Amgen’s payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMGN. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $333.57.

About Amgen

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.