Principal Financial Group Inc. Raises Position in AmerisourceBergen Corporation (Holding Co) (ABC)

Principal Financial Group Inc. boosted its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,848 shares of the company’s stock after buying an additional 480 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of AmerisourceBergen Corporation (Holding Co) worth $25,225,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in AmerisourceBergen Corporation (Holding Co) by 4.0% during the first quarter. Vanguard Group Inc. now owns 15,348,617 shares of the company’s stock valued at $1,358,352,000 after buying an additional 587,779 shares during the period. BlackRock Inc. increased its holdings in AmerisourceBergen Corporation (Holding Co) by 1,139.3% during the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock valued at $1,121,608,000 after buying an additional 11,650,881 shares during the period. Fiduciary Management Inc. WI increased its holdings in AmerisourceBergen Corporation (Holding Co) by 11.2% during the first quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock valued at $544,418,000 after buying an additional 617,723 shares during the period. JPMorgan Chase & Co. increased its holdings in AmerisourceBergen Corporation (Holding Co) by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 3,106,108 shares of the company’s stock valued at $274,889,000 after buying an additional 293,229 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in AmerisourceBergen Corporation (Holding Co) by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 3,063,289 shares of the company’s stock valued at $271,101,000 after buying an additional 216,204 shares during the period. 67.67% of the stock is currently owned by institutional investors.

In related news, insider Gina Clark sold 1,273 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the transaction, the insider now directly owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $79.92, for a total transaction of $1,198,800.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares in the company, valued at $20,289,769.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,273 shares of company stock worth $4,323,237. Insiders own 27.40% of the company’s stock.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 82.50 on Monday. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The firm has a 50-day moving average of $83.22 and a 200 day moving average of $87.98. The firm has a market capitalization of $18.08 billion, a P/E ratio of 21.50 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The company had revenue of $38.71 billion for the quarter, compared to the consensus estimate of $39.13 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is presently 38.02%.

WARNING: This piece was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/09/11/principal-financial-group-inc-raises-position-in-amerisourcebergen-corporation-holding-co-abc.html.

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $91.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Sunday. ValuEngine lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a “hold” rating in a report on Tuesday, August 29th. Leerink Swann set a $90.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub lowered shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) has an average rating of “Hold” and an average target price of $92.34.

About AmerisourceBergen Corporation (Holding Co)

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.

Institutional Ownership by Quarter for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Corporation (Holding Co) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corporation (Holding Co) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply