Affiliated Managers Group, Inc. (AMG) Holdings Lifted by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,965 shares of the asset manager’s stock after acquiring an additional 2,711 shares during the period. Toronto Dominion Bank’s holdings in Affiliated Managers Group were worth $4,918,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMG. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Affiliated Managers Group by 156.0% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 714,516 shares of the asset manager’s stock worth $135,637,000 after purchasing an additional 435,440 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Affiliated Managers Group by 101.1% during the third quarter. Jane Street Group LLC now owns 3,939 shares of the asset manager’s stock worth $748,000 after purchasing an additional 366,268 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Affiliated Managers Group by 102.0% during the third quarter. Calamos Advisors LLC now owns 226,214 shares of the asset manager’s stock worth $42,942,000 after purchasing an additional 114,217 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Affiliated Managers Group by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,456,274 shares of the asset manager’s stock worth $709,402,000 after purchasing an additional 96,556 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Affiliated Managers Group by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock worth $112,364,000 after purchasing an additional 83,018 shares during the last quarter. Institutional investors own 95.07% of the company’s stock.

In related news, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at $7,448,600.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at $187.30 on Wednesday. Affiliated Managers Group, Inc. has a twelve month low of $148.81 and a twelve month high of $216.99. The company has a market capitalization of $10,660.06, a P/E ratio of 15.52, a P/E/G ratio of 0.69 and a beta of 1.57. The company has a quick ratio of 0.54, a current ratio of 0.59 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 Thomson Reuters’ consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. During the same period in the prior year, the business posted $3.80 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. equities analysts predict that Affiliated Managers Group, Inc. will post 17.58 EPS for the current fiscal year.

Affiliated Managers Group declared that its Board of Directors has initiated a stock buyback plan on Monday, January 29th that allows the company to repurchase 3,400,000 outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, February 7th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 0.64%. Affiliated Managers Group’s dividend payout ratio is presently 6.63%.

AMG has been the topic of several research reports. Credit Suisse Group restated a “hold” rating and set a $215.00 price target on shares of Affiliated Managers Group in a report on Friday, January 12th. Deutsche Bank upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and reduced their price target for the stock from $216.00 to $215.00 in a report on Tuesday, February 13th. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Tuesday, January 2nd. Citigroup upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Finally, Barrington Research upped their target price on 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $228.25.

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Affiliated Managers Group Company Profile

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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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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