Kinsale Capital Group Inc. Buys 3,047 Shares of Amgen Inc. (NASDAQ:AMGN)

Kinsale Capital Group Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,875 shares of the medical research company’s stock after acquiring an additional 3,047 shares during the period. Amgen accounts for about 1.7% of Kinsale Capital Group Inc.’s portfolio, making the stock its 26th biggest position. Kinsale Capital Group Inc.’s holdings in Amgen were worth $6,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Swedbank AB increased its stake in Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the period. Principal Securities Inc. increased its stake in Amgen by 8.9% during the 3rd quarter. Principal Securities Inc. now owns 13,501 shares of the medical research company’s stock worth $4,350,000 after acquiring an additional 1,104 shares during the period. Gladstone Institutional Advisory LLC increased its stake in Amgen by 20.1% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 5,942 shares of the medical research company’s stock worth $1,915,000 after acquiring an additional 994 shares during the period. Affinity Investment Advisors LLC increased its stake in Amgen by 6.9% during the 3rd quarter. Affinity Investment Advisors LLC now owns 5,170 shares of the medical research company’s stock worth $1,666,000 after acquiring an additional 332 shares during the period. Finally, Weatherly Asset Management L. P. increased its stake in shares of Amgen by 18.6% in the 3rd quarter. Weatherly Asset Management L. P. now owns 3,298 shares of the medical research company’s stock valued at $1,063,000 after purchasing an additional 518 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Up 0.7 %

Shares of NASDAQ:AMGN opened at $308.06 on Friday. The company has a market capitalization of $165.49 billion, a price-to-earnings ratio of 40.80, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The business’s 50-day moving average is $280.87 and its 200-day moving average is $299.99. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 126.09%.

Amgen Company Profile

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.