Allergan PLC. (AGN) Stake Lessened by Principal Financial Group Inc.
Principal Financial Group Inc. trimmed its position in shares of Allergan PLC. (NYSE:AGN) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 546,700 shares of the company’s stock after selling 16,564 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Allergan PLC. worth $112,046,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Honeywell International Inc. increased its stake in shares of Allergan PLC. by 13.6% during the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after acquiring an additional 20,100 shares during the period. Israel Discount Bank of New York acquired a new position in shares of Allergan PLC. during the first quarter worth about $988,000. Sumitomo Life Insurance Co. increased its stake in shares of Allergan PLC. by 39.0% during the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after acquiring an additional 4,244 shares during the period. Colony Group LLC increased its stake in shares of Allergan PLC. by 9.9% during the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after acquiring an additional 3,577 shares during the period. Finally, Palladium Partners LLC increased its stake in shares of Allergan PLC. by 1.7% during the second quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock worth $7,575,000 after acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.
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Allergan PLC. (NYSE AGN) opened at €172.21 ($200.24) on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The stock has a market cap of $57,274.12, a P/E ratio of 11.17, a P/E/G ratio of 1.09 and a beta of 1.13. Allergan PLC. has a one year low of €169.64 ($197.26) and a one year high of €256.80 ($298.60).
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported €4.15 ($4.83) earnings per share (EPS) for the quarter, beating the consensus estimate of €4.06 ($4.72) by €0.09 ($0.10). The business had revenue of €4.03 billion for the quarter, compared to the consensus estimate of €4.04 billion. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.32 earnings per share. research analysts forecast that Allergan PLC. will post 16.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s payout ratio is -12.44%.
Allergan PLC. declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on AGN. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price target (down from $277.00) on shares of Allergan PLC. in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price target on shares of Allergan PLC. and gave the stock a “buy” rating in a research note on Sunday, October 22nd. BidaskClub lowered shares of Allergan PLC. from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reiterated a “buy” rating and set a $267.00 price target on shares of Allergan PLC. in a research note on Monday, September 25th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $258.00 price objective on shares of Allergan PLC. in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of €246.73 ($286.90).
Allergan PLC. Company Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, womens health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimers disease.
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