Oppenheimer & Co. Inc. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,012 shares of the asset manager’s stock after acquiring an additional 1,032 shares during the period. Oppenheimer & Co. Inc.’s holdings in Affiliated Managers Group were worth $1,439,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new stake in Affiliated Managers Group in the third quarter valued at $100,000. Advisor Group Inc. boosted its holdings in Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after acquiring an additional 228 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Affiliated Managers Group in the third quarter valued at $200,000. Waldron LP bought a new stake in Affiliated Managers Group in the fourth quarter valued at $201,000. Finally, IFM Investors Pty Ltd bought a new stake in Affiliated Managers Group in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 94.81% of the company’s stock.
Shares of Affiliated Managers Group, Inc. (AMG) opened at $191.79 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $148.81 and a fifty-two week high of $216.99. The company has a market cap of $10,576.68, a price-to-earnings ratio of 15.89, a PEG ratio of 0.68 and a beta of 1.57. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 0.23.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, beating the Zacks’ consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The firm had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. During the same quarter in the previous year, the business posted $3.80 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. sell-side analysts forecast that Affiliated Managers Group, Inc. will post 17.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, February 7th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s payout ratio is 6.63%.
Affiliated Managers Group declared that its board has initiated a stock repurchase program on Monday, January 29th that authorizes the company to repurchase 3,400,000 shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target on the stock. in a report on Tuesday, January 9th. Citigroup lifted their price target on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Barrington Research lifted their price target on shares of Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Affiliated Managers Group has an average rating of “Buy” and an average target price of $228.25.
In other news, insider Peter W. Macewen sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the sale, the insider now owns 37,682 shares in the company, valued at approximately $7,448,600.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
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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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