Kinsale Capital Group Inc. Boosts Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Kinsale Capital Group Inc. increased its holdings in Johnson & Johnson by 15.1%, now owning 58,331 shares valued at approximately $9.67 million.
• Equities analysts have generally rated Johnson & Johnson as a "Moderate Buy," with a consensus price target of $174.50.
• Johnson & Johnson recently announced a quarterly dividend of $1.30, resulting in an annualized yield of 3.09%.

Kinsale Capital Group Inc. boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,331 shares of the company's stock after purchasing an additional 7,662 shares during the quarter. Johnson & Johnson comprises about 2.4% of Kinsale Capital Group Inc.'s holdings, making the stock its 11th biggest position. Kinsale Capital Group Inc.'s holdings in Johnson & Johnson were worth $9,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after acquiring an additional 1,561,036 shares during the last quarter. Northern Trust Corp grew its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Wellington Management Group LLP lifted its holdings in Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Johnson & Johnson by 6.5% during the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock valued at $2,766,014,000 after buying an additional 1,171,975 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 1.1%

NYSE JNJ traded down $1.85 during trading on Thursday, hitting $165.41. The company had a trading volume of 4,547,807 shares, compared to its average volume of 9,028,843. The company's fifty day moving average is $156.93 and its 200-day moving average is $156.30. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $398.35 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.14%. Johnson & Johnson's payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. UBS Group boosted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Bank of America increased their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Royal Bank Of Canada raised their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.