Kinsale Capital Group Inc. Acquires 15,673 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kinsale Capital Group Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,270 shares of the biopharmaceutical company’s stock after acquiring an additional 15,673 shares during the quarter. Bristol-Myers Squibb makes up about 1.7% of Kinsale Capital Group Inc.’s holdings, making the stock its 24th largest position. Kinsale Capital Group Inc.’s holdings in Bristol-Myers Squibb were worth $6,293,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BMY. Swedbank AB lifted its holdings in Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after acquiring an additional 28,427 shares during the period. Pettinga Financial Advisors LLC increased its position in Bristol-Myers Squibb by 8.7% in the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock worth $575,000 after buying an additional 886 shares during the last quarter. Financial Advocates Investment Management increased its position in Bristol-Myers Squibb by 7.4% in the third quarter. Financial Advocates Investment Management now owns 17,811 shares of the biopharmaceutical company’s stock worth $922,000 after buying an additional 1,228 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth $25,000. Finally, Stephens Inc. AR increased its position in Bristol-Myers Squibb by 1.0% in the third quarter. Stephens Inc. AR now owns 155,309 shares of the biopharmaceutical company’s stock worth $8,036,000 after buying an additional 1,477 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMY shares. Bank of America reissued a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Up 1.5 %

NYSE BMY opened at $59.71 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $57.15 and a 200-day moving average of $54.74. The firm has a market cap of $121.17 billion, a PE ratio of -13.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -56.11%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.