People s United Financial Inc. Has $7.18 Million Holdings in Allergan plc (AGN)
People s United Financial Inc. lessened its holdings in shares of Allergan plc (NYSE:AGN) by 3.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 37,687 shares of the company’s stock after selling 1,210 shares during the period. People s United Financial Inc.’s holdings in Allergan were worth $7,178,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC grew its holdings in Allergan by 747.5% during the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock worth $129,000 after acquiring an additional 598 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Allergan in the 2nd quarter valued at $129,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Allergan by 3,193.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock valued at $165,000 after buying an additional 958 shares during the period. BLB&B Advisors LLC acquired a new position in shares of Allergan in the 3rd quarter valued at $206,000. Finally, Aries Wealth Management acquired a new position in shares of Allergan in the 2nd quarter valued at $202,000. 78.24% of the stock is owned by hedge funds and other institutional investors.
AGN has been the subject of several research analyst reports. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Saturday, September 15th. Raymond James reissued a “buy” rating and issued a $232.00 price target (up previously from $211.00) on shares of Allergan in a report on Monday, September 17th. Zacks Investment Research lowered shares of Allergan from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Cantor Fitzgerald reissued a “hold” rating and issued a $180.00 price target on shares of Allergan in a report on Friday, September 14th. Finally, ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company. Allergan has a consensus rating of “Buy” and an average price target of $209.18.
Allergan (NYSE:AGN) last announced its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.15 EPS. Sell-side analysts expect that Allergan plc will post 16.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 9th. Allergan’s payout ratio is presently 17.61%.
In related news, CFO Matthew M. Walsh bought 1,000 shares of Allergan stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $157.00 per share, with a total value of $157,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of Allergan stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by corporate insiders.
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Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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