Retirement Systems of Alabama cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,859 shares of the asset manager’s stock after selling 3,494 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Affiliated Managers Group worth $10,224,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Affiliated Managers Group by 5.1% during the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock valued at $924,505,000 after acquiring an additional 270,929 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Affiliated Managers Group by 60.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock valued at $595,663,000 after buying an additional 1,359,805 shares during the last quarter. State Street Corp raised its holdings in shares of Affiliated Managers Group by 6.7% in the second quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock valued at $457,334,000 after buying an additional 174,278 shares during the last quarter. Atlanta Capital Management Co. L L C raised its holdings in shares of Affiliated Managers Group by 0.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,973,612 shares of the asset manager’s stock valued at $327,343,000 after buying an additional 10,982 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in shares of Affiliated Managers Group by 42.2% in the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock valued at $320,494,000 after buying an additional 573,066 shares during the last quarter. 96.02% of the stock is owned by institutional investors.
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Affiliated Managers Group, Inc. (NYSE:AMG) opened at $186.09 on Friday. The stock has a market capitalization of $10,310.00, a PE ratio of 13.32, a PEG ratio of 0.86 and a beta of 1.70. Affiliated Managers Group, Inc. has a 12-month low of $139.52 and a 12-month high of $198.40. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.05. The company had revenue of $585.70 million during the quarter, compared to analyst estimates of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.02 EPS. equities research analysts predict that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Affiliated Managers Group’s dividend payout ratio is presently 8.66%.
In related news, Director Patrick T. Ryan sold 7,705 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $185.27, for a total value of $1,427,505.35. Following the completion of the transaction, the director now directly owns 6,797 shares in the company, valued at approximately $1,259,280.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight D. Churchill sold 2,080 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the completion of the transaction, the director now owns 6,104 shares of the company’s stock, valued at $1,124,845.12. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on AMG shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, August 1st. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a research report on Monday, October 2nd. Finally, Barrington Research reiterated an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $207.25.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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