Advisors Asset Management Inc. grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,003 shares of the asset manager’s stock after purchasing an additional 684 shares during the period. Advisors Asset Management Inc.’s holdings in Affiliated Managers Group were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AMG. Cornerstone Wealth Management LLC acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $156,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at $247,000. Point72 Hong Kong Ltd acquired a new position in Affiliated Managers Group during the 2nd quarter worth about $263,000. IFM Investors Pty Ltd lifted its stake in Affiliated Managers Group by 69.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 1,925 shares of the asset manager’s stock worth $286,000 after acquiring an additional 786 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Affiliated Managers Group by 21.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,339 shares of the asset manager’s stock worth $348,000 after acquiring an additional 409 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.
AMG opened at $115.66 on Wednesday. Affiliated Managers Group, Inc. has a 12-month low of $110.27 and a 12-month high of $216.99. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.24 billion, a P/E ratio of 7.92, a PEG ratio of 0.64 and a beta of 1.53.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The firm had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same quarter in the prior year, the company earned $3.41 EPS. Affiliated Managers Group’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group, Inc. will post 14.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.20 annualized dividend and a yield of 1.04%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.22%.
In related news, EVP Hugh Cutler purchased 1,564 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $115.48 per share, for a total transaction of $180,610.72. Following the acquisition, the executive vice president now directly owns 7,087 shares in the company, valued at $818,406.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is owned by corporate insiders.
AMG has been the topic of several research reports. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Deutsche Bank decreased their target price on Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Citigroup increased their target price on Affiliated Managers Group from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Keefe, Bruyette & Woods raised Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price on the stock in a research note on Monday, July 30th. Finally, Barrington Research decreased their target price on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $190.50.
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Affiliated Managers Group Company 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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