Kinsale Capital Group Inc. Buys 2,731 Shares of Amgen Inc. (NASDAQ:AMGN)

Kinsale Capital Group Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,828 shares of the medical research company's stock after purchasing an additional 2,731 shares during the quarter. Amgen accounts for 2.0% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 16th largest holding. Kinsale Capital Group Inc.'s holdings in Amgen were worth $6,711,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMGN. M&G Plc bought a new position in Amgen during the 1st quarter valued at $7,633,000. Intech Investment Management LLC grew its position in Amgen by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 35,673 shares of the medical research company's stock worth $10,143,000 after purchasing an additional 5,668 shares in the last quarter. Alera Investment Advisors LLC purchased a new stake in Amgen in the 1st quarter valued at about $227,000. Patten & Patten Inc. TN lifted its position in shares of Amgen by 4.6% during the 1st quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company's stock worth $883,000 after buying an additional 136 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in shares of Amgen by 218.0% in the 1st quarter. Edgestream Partners L.P. now owns 12,434 shares of the medical research company's stock worth $3,535,000 after buying an additional 8,524 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 4.2 %

Amgen stock traded down $12.32 during trading hours on Friday, reaching $283.61. The company had a trading volume of 5,325,131 shares, compared to its average volume of 2,453,793. 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 Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a 50-day moving average price of $320.85 and a 200 day moving average price of $318.05. The firm has a market cap 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.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its 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 company had revenue of $8.50 billion for 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 firm's revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.96 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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 $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. Amgen's payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They set an "outperform" rating and a $380.00 price target for the company. Citigroup initiated coverage on Amgen in a report on Thursday. They issued a "neutral" rating and a $335.00 price objective for the company. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, Wolfe Research assumed coverage on Amgen in a report on Friday. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amgen has an average rating of "Moderate Buy" and an average target price of $333.57.

Amgen 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.