Kinsale Capital Group Inc. Buys 4,030 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Kinsale Capital Group Inc. increased its holdings in Amgen Inc. by 16.9%, acquiring an additional 4,030 shares, bringing its total stake to 27,905 shares valued at approximately $8.694 million.
• Several institutional investors, including Capital International Investors and Geode Capital Management, also significantly raised their stakes in Amgen during the fourth quarter, reflecting growing confidence in the company's performance.
• Amgen reported a quarterly EPS of $4.90, surpassing analysts' expectations, alongside a 9.4% increase in revenue compared to the same period last year, indicating strong operational growth.

Kinsale Capital Group Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,905 shares of the medical research company's stock after purchasing an additional 4,030 shares during the quarter. Amgen makes up approximately 2.1% of Kinsale Capital Group Inc.'s holdings, making the stock its 19th biggest holding. Kinsale Capital Group Inc.'s holdings in Amgen were worth $8,694,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KPP Advisory Services LLC raised its holdings in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in Amgen during the 1st quarter worth approximately $1,331,000. DLK Investment Management LLC raised its holdings in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares during the period. Mariner LLC raised its holdings in Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after buying an additional 19,250 shares during the period. Finally, Joseph Group Capital Management raised its holdings in Amgen by 15.1% during the 4th quarter. Joseph Group Capital Management now owns 9,934 shares of the medical research company's stock worth $2,589,000 after buying an additional 1,301 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMGN shares. Citigroup raised their target price on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and an average target price of $307.27.

Amgen Stock Down 1.8%

AMGN traded down $5.29 during mid-day trading on Thursday, reaching $296.08. 951,756 shares of the stock were exchanged, compared to its average volume of 2,903,941. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $159.21 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.63 and a beta of 0.49. The company has a 50 day moving average price of $291.07 and a two-hundred day moving average price of $291.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $340.89.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.96 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

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.