Nomura Asset Management Co. Ltd. grew its holdings in shares of Affiliated Managers Group (NYSE:AMG) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,205 shares of the asset manager’s stock after acquiring an additional 668 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Affiliated Managers Group were worth $1,685,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake 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 valued at $709,402,000 after acquiring an additional 96,556 shares in the last quarter. BlackRock Inc. grew its stake in Affiliated Managers Group by 0.8% in the fourth quarter. BlackRock Inc. now owns 3,430,442 shares of the asset manager’s stock worth $704,097,000 after purchasing an additional 27,729 shares in the last quarter. Atlanta Capital Management Co. L L C grew its stake in Affiliated Managers Group by 6.1% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 2,052,330 shares of the asset manager’s stock worth $421,240,000 after purchasing an additional 117,377 shares in the last quarter. Wells Fargo & Company MN grew its stake in Affiliated Managers Group by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,584,476 shares of the asset manager’s stock worth $325,214,000 after purchasing an additional 24,985 shares in the last quarter. Finally, Lyrical Asset Management LP grew its stake in Affiliated Managers Group by 3.6% in the fourth quarter. Lyrical Asset Management LP now owns 1,167,853 shares of the asset manager’s stock worth $239,702,000 after purchasing an additional 40,317 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.
Affiliated Managers Group stock traded down $5.57 during mid-day trading on Friday, hitting $176.44. The company’s stock had a trading volume of 454,657 shares, compared to its average volume of 376,392. Affiliated Managers Group has a twelve month low of $148.81 and a twelve month high of $216.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $9,615.27, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.51.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, topping the 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 period in the previous year, the company posted $3.80 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. equities analysts predict that Affiliated Managers Group will post 17.21 EPS for the current fiscal year.
Affiliated Managers Group announced that its board has initiated a stock repurchase plan on Monday, January 29th that allows the company to repurchase 3,400,000 shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, CFO Jay C. Horgen sold 30,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the transaction, the chief financial officer now directly owns 114,039 shares in the company, valued at approximately $21,620,654.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
A number of brokerages have commented on AMG. Deutsche Bank upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and decreased their target price for the company from $216.00 to $215.00 in a research note on Tuesday, February 13th. ValuEngine downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Citigroup lifted their price target on Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group cut 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Affiliated Managers Group currently has a consensus rating of “Buy” and an average price target of $228.25.
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Affiliated Managers Group Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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