Corebridge Financial Inc. Sells 1,228 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Corebridge Financial Inc. has reduced its stake in Regeneron Pharmaceuticals by 3.5%, selling 1,228 shares and owning a total of 33,424 shares valued at approximately $21.2 million.
• Notable institutional investors like Goldman Sachs and Vanguard Group have also increased their investments in Regeneron, indicating strong interest from large financial institutions.
• Regeneron reported earnings of $12.89 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.88, which reflects an annual yield of 0.6%.

Corebridge Financial Inc. reduced its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,424 shares of the biopharmaceutical company's stock after selling 1,228 shares during the period. Corebridge Financial Inc.'s holdings in Regeneron Pharmaceuticals were worth $21,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Adirondack Trust Co. increased its holdings in shares of Regeneron Pharmaceuticals by 4.2% in the first quarter. Adirondack Trust Co. now owns 451 shares of the biopharmaceutical company's stock valued at $286,000 after purchasing an additional 18 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Regeneron Pharmaceuticals by 1.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,084 shares of the biopharmaceutical company's stock valued at $681,000 after purchasing an additional 19 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Regeneron Pharmaceuticals by 9.5% in the first quarter. Creative Financial Designs Inc. ADV now owns 220 shares of the biopharmaceutical company's stock valued at $139,000 after purchasing an additional 19 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Regeneron Pharmaceuticals by 13.1% in the first quarter. Private Trust Co. NA now owns 164 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 19 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Regeneron Pharmaceuticals by 6.2% in the first quarter. Proficio Capital Partners LLC now owns 327 shares of the biopharmaceutical company's stock valued at $207,000 after acquiring an additional 19 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group restated a "neutral" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Rothschild & Co Redburn assumed coverage on shares of Regeneron Pharmaceuticals in a research note on Thursday, August 14th. They issued a "buy" rating and a $890.00 price target on the stock. Argus downgraded shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. BMO Capital Markets upped their price target on shares of Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, Citigroup restated a "buy" rating and issued a $650.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $817.67.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock traded down $7.35 during trading hours on Thursday, reaching $579.61. 616,549 shares of the stock were exchanged, compared to its average volume of 1,082,231. The company has a market cap of $61.43 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.33. The company has a current ratio of 4.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $1,210.97. The stock has a 50 day moving average of $555.84 and a two-hundred day moving average of $588.67.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 EPS for the quarter, topping analysts' consensus estimates of $8.43 by $4.46. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.56 earnings per share. Equities analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio is 8.87%.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.