Allstate Corp Has $5.92 Million Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Allstate Corp more than doubled its stake in Regeneron Pharmaceuticals in the fourth quarter, increasing holdings by 103% to 7,664 shares valued at about $5.92 million.
• Regeneron’s earnings topped expectations, with quarterly EPS of $9.47 versus $8.91 estimated and revenue of $3.61 billion, up 19% year over year.
• Analysts remain generally constructive on REGN despite some lower price targets, with a consensus rating of Moderate Buy and an average target price of $792.65.

Allstate Corp grew its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 103.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,664 shares of the biopharmaceutical company's stock after purchasing an additional 3,889 shares during the quarter. Allstate Corp's holdings in Regeneron Pharmaceuticals were worth $5,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in REGN. Vanguard Group Inc. raised its stake in Regeneron Pharmaceuticals by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,075,153 shares of the biopharmaceutical company's stock worth $7,004,838,000 after buying an additional 26,884 shares during the period. Dodge & Cox increased its holdings in Regeneron Pharmaceuticals by 18.9% during the 3rd quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company's stock worth $2,558,804,000 after purchasing an additional 724,562 shares in the last quarter. Franklin Resources Inc. increased its holdings in Regeneron Pharmaceuticals by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,453,143 shares of the biopharmaceutical company's stock worth $1,379,329,000 after purchasing an additional 139,647 shares in the last quarter. Capital World Investors increased its holdings in Regeneron Pharmaceuticals by 1.6% during the 3rd quarter. Capital World Investors now owns 1,998,366 shares of the biopharmaceutical company's stock worth $1,123,609,000 after purchasing an additional 32,348 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Regeneron Pharmaceuticals by 38.0% during the 3rd quarter. Invesco Ltd. now owns 1,484,473 shares of the biopharmaceutical company's stock worth $834,675,000 after purchasing an additional 408,649 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the transaction, the director directly owned 17,503 shares of the company's stock, valued at approximately $12,343,815.72. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on REGN. Wall Street Zen raised Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating for the company in a report on Monday, May 18th. Canaccord Genuity Group decreased their price objective on Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. TD Cowen boosted their price objective on Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Morgan Stanley boosted their price objective on Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $792.65.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $634.62 on Wednesday. The firm has a market cap of $67.09 billion, a PE ratio of 15.46, a P/E/G ratio of 1.41 and a beta of 0.30. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $727.07 and a 200-day moving average of $745.65. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the company posted $8.22 earnings per share. Regeneron Pharmaceuticals's quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.25 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio is 9.16%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc NASDAQ: REGN is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.