Sompo Japan Nipponkoa Asset Management CO. LTD. Increases Stake in Allergan plc (AGN)

Sompo Japan Nipponkoa Asset Management CO. LTD. grew its stake in shares of Allergan plc (NYSE:AGN) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,890 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Allergan were worth $3,598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Bank NA boosted its stake in shares of Allergan by 41.0% during the 3rd quarter. Cadence Bank NA now owns 2,686 shares of the company’s stock valued at $511,000 after purchasing an additional 781 shares in the last quarter. Achmea Investment Management B.V. boosted its stake in shares of Allergan by 125.7% during the 3rd quarter. Achmea Investment Management B.V. now owns 21,605 shares of the company’s stock valued at $4,115,000 after purchasing an additional 12,032 shares in the last quarter. Eos Focused Equity Management L.P. lifted its position in Allergan by 36.9% during the 3rd quarter. Eos Focused Equity Management L.P. now owns 17,162 shares of the company’s stock valued at $3,269,000 after acquiring an additional 4,626 shares during the period. Smithfield Trust Co. lifted its position in Allergan by 8.8% during the 3rd quarter. Smithfield Trust Co. now owns 4,292 shares of the company’s stock valued at $817,000 after acquiring an additional 347 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Allergan during the 3rd quarter valued at about $10,767,000. 77.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Allergan stock opened at $165.52 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78. The stock has a market capitalization of $57.21 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.34 and a beta of 1.31. Allergan plc has a 52-week low of $142.81 and a 52-week high of $197.00.

Allergan (NYSE:AGN) last issued its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.21. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.15 earnings per share. As a group, research analysts predict that Allergan plc will post 16.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 annualized dividend and a yield of 1.74%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.

AGN has been the subject of a number of recent research reports. Credit Suisse Group set a $213.00 price target on shares of Allergan and gave the company a “buy” rating in a research report on Friday, July 13th. Zacks Investment Research raised shares of Allergan from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research report on Tuesday, July 17th. Wells Fargo & Co set a $240.00 price target on shares of Allergan and gave the company a “buy” rating in a research report on Thursday, July 19th. Cantor Fitzgerald set a $180.00 price target on shares of Allergan and gave the company a “hold” rating in a research report on Thursday, July 19th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $164.00 price target on shares of Allergan in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $210.18.

In other news, Director Christopher J. Coughlin bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $190.64 per share, with a total value of $1,906,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph H. Boccuzi bought 900 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was purchased at an average cost of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

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About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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