Zurich Insurance Group Ltd FI Sells 39,014 Shares of Allergan plc (NYSE:AGN)

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Zurich Insurance Group Ltd FI lessened its holdings in Allergan plc (NYSE:AGN) by 35.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,644 shares of the company’s stock after selling 39,014 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Allergan were worth $11,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Liberty Wealth Management LLC raised its holdings in Allergan by 35.3% during the 2nd quarter. Liberty Wealth Management LLC now owns 257 shares of the company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in Allergan by 1.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 4,274 shares of the company’s stock worth $626,000 after purchasing an additional 75 shares during the last quarter. Berman Capital Advisors LLC raised its holdings in Allergan by 48.8% during the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the company’s stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Allergan by 43.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 259 shares of the company’s stock worth $44,000 after purchasing an additional 78 shares during the last quarter. Finally, Bank of Hawaii raised its holdings in Allergan by 1.4% during the 1st quarter. Bank of Hawaii now owns 6,463 shares of the company’s stock worth $946,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 80.45% of the company’s stock.

Shares of AGN stock traded up $0.74 during trading hours on Friday, hitting $166.47. 3,597,844 shares of the company were exchanged, compared to its average volume of 2,942,227. The firm has a market cap of $54.45 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.16 and a beta of 1.61. Allergan plc has a fifty-two week low of $114.27 and a fifty-two week high of $197.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.91 and a current ratio of 1.03. The company has a 50 day simple moving average of $161.31 and a two-hundred day simple moving average of $149.56.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.34 by $0.04. Allergan had a negative net margin of 54.25% and a positive return on equity of 8.73%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm posted $4.42 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Allergan plc will post 16.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 13th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.78%. The ex-dividend date was Monday, August 12th. Allergan’s payout ratio is currently 17.74%.

AGN has been the subject of several analyst reports. Raymond James lowered shares of Allergan from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada restated a “hold” rating and set a $178.00 price target on shares of Allergan in a report on Thursday, August 8th. Leerink Swann lowered shares of Allergan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $217.00 to $188.00 in a report on Thursday, July 18th. Sanford C. Bernstein lowered shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price target for the company. in a report on Tuesday, July 16th. Finally, Wells Fargo & Co restated a “buy” rating and set a $176.00 price target (down previously from $188.00) on shares of Allergan in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $178.75.

Allergan Company Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

Read More: Cash Asset Ratio

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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