Cerity Partners LLC Has $1.76 Million Holdings in Allergan plc (AGN)

Cerity Partners LLC lessened its stake in shares of Allergan plc (NYSE:AGN) by 44.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,192 shares of the company’s stock after selling 10,467 shares during the period. Cerity Partners LLC’s holdings in Allergan were worth $1,763,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AGN. Oregon Public Employees Retirement Fund boosted its position in shares of Allergan by 14,208.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock valued at $155,000 after acquiring an additional 20,617,639 shares during the period. Edgewood Management LLC boosted its position in shares of Allergan by 1.5% in the third quarter. Edgewood Management LLC now owns 5,815,362 shares of the company’s stock valued at $1,107,710,000 after acquiring an additional 86,971 shares during the period. Franklin Resources Inc. boosted its position in shares of Allergan by 1.7% in the third quarter. Franklin Resources Inc. now owns 5,131,825 shares of the company’s stock valued at $977,516,000 after acquiring an additional 84,911 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Allergan by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 3,637,854 shares of the company’s stock valued at $692,939,000 after acquiring an additional 92,297 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Allergan by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 3,427,945 shares of the company’s stock valued at $652,955,000 after acquiring an additional 60,239 shares during the period. Institutional investors own 84.04% of the company’s stock.

Get Allergan alerts:

AGN has been the subject of several research reports. Morgan Stanley set a $183.00 price objective on Allergan and gave the company a “buy” rating in a research report on Thursday, December 20th. Credit Suisse Group set a $200.00 price objective on Allergan and gave the company a “buy” rating in a research report on Thursday, December 13th. Royal Bank of Canada set a $220.00 price objective on Allergan and gave the company a “buy” rating in a research report on Friday, November 30th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research report on Wednesday, October 31st. Finally, Raymond James reduced their price objective on Allergan from $232.00 to $198.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $199.79.

Shares of AGN stock opened at $138.67 on Friday. The firm has a market capitalization of $47.33 billion, a P/E ratio of 8.31, a PEG ratio of 1.11 and a beta of 1.43. Allergan plc has a one year low of $125.84 and a one year high of $197.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.51 and a quick ratio of 1.34.

Allergan (NYSE:AGN) last issued its earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, topping the consensus estimate of $4.15 by $0.14. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4 billion. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. Allergan’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $4.86 earnings per share. As a group, sell-side analysts predict that Allergan plc will post 16.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be given a $0.74 dividend. This is a boost from Allergan’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, February 14th. Allergan’s dividend payout ratio (DPR) is 17.26%.

Allergan declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 29th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This story was first posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/4153409/cerity-partners-llc-has-1-76-million-holdings-in-allergan-plc-agn.html.

Allergan Company Profile

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.

See Also: What is the Book Value of a Share?