KBC Group NV cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,263 shares of the asset manager’s stock after selling 625 shares during the period. KBC Group NV’s holdings in Affiliated Managers Group were worth $1,491,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $201,000. Waldron LP purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $201,000. Canandaigua National Bank & Trust Co. purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $204,000. Advisor Group Inc. lifted its holdings in Affiliated Managers Group by 38.5% during the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after buying an additional 278 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.
A number of brokerages have issued reports on AMG. Deutsche Bank raised Affiliated Managers Group from a “hold” rating to a “buy” rating and decreased their price target for the stock from $216.00 to $215.00 in a report on Tuesday, February 13th. Barrington Research lifted their target price on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup lifted their target price on Affiliated Managers Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Credit Suisse Group reiterated a “hold” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Friday, January 12th. Finally, Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $228.25.
Affiliated Managers Group, Inc. (NYSE:AMG) opened at $190.01 on Friday. The stock has a market capitalization of $10,384.37, a PE ratio of 12.77, a P/E/G ratio of 0.67 and a beta of 1.57. Affiliated Managers Group, Inc. has a 52-week low of $148.81 and a 52-week high of $216.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.54.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.55 by $0.13. The business had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.51 million. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.80 EPS. equities analysts expect that Affiliated Managers Group, Inc. will post 17.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. Affiliated Managers Group’s payout ratio is 9.94%.
Affiliated Managers Group announced that its Board of Directors has approved a stock buyback program on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Peter W. Macewen sold 10,000 shares of the business’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 transaction of $1,976,700.00. Following the sale, the insider now owns 37,682 shares of the company’s stock, valued at approximately $7,448,600.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by insiders.
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Affiliated Managers Group 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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