The Manufacturers Life Insurance Company Has $416.73 Million Stake in Amgen Inc. $AMGN

Key Points

• The Manufacturers Life Insurance Company reduced its Amgen stake by 8.5% in the second quarter, selling 107,249 shares but retaining 1.15 million shares valued at approximately $416.7 million. Institutional investors and hedge funds collectively own 76.5% of Amgen.
• Amgen reported stronger-than-expected quarterly results, with earnings of $6.29 per share and revenue of $10.05 billion, up 9.5% year over year. The company issued full-year 2026 EPS guidance of $22.30–$23.50.
• Amgen declared a quarterly dividend of $2.52 per share, equivalent to $10.08 annually and a 2.3% yield. Meanwhile, insiders sold 6,222 shares worth roughly $2.54 million during the latest quarter, and analysts maintain a consensus “Hold” rating with a $380.43 average price target.

The Manufacturers Life Insurance Company lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,150,794 shares of the medical research company's stock after selling 107,249 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.21% of Amgen worth $416,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AMGN. Anfield Capital Management LLC raised its position in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its stake in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after acquiring an additional 55 shares during the last quarter. Tower View Wealth Management LLC grew its holdings in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares during the period. Manning & Napier Advisors LLC increased its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in Amgen in the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company's stock.

Amgen Stock Performance

Shares of AMGN opened at $443.84 on Tuesday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $445.87. The firm's 50 day moving average price is $380.90 and its two-hundred day moving average price is $362.81. The firm has a market cap of $239.95 billion, a P/E ratio of 27.58, a PEG ratio of 3.17 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter in the prior year, the company earned $6.02 earnings per share. The business's quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts forecast that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen's dividend payout ratio is presently 62.65%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a report on Friday, June 5th. Oppenheimer upped their price objective on shares of Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Barclays lifted their target price on Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Amgen currently has a consensus rating of "Hold" and an average price target of $380.43.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source