U S Global Investors Inc bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,085 shares of the asset manager’s stock, valued at approximately $422,000.
Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Affiliated Managers Group by 4,434.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 150,503 shares of the asset manager’s stock valued at $595,000 after buying an additional 147,184 shares during the period. Trust Co. of Toledo NA OH acquired a new position in Affiliated Managers Group during the 3rd quarter valued at about $202,000. Congress Asset Management Co. MA increased its stake in Affiliated Managers Group by 4.4% during the 3rd quarter. Congress Asset Management Co. MA now owns 33,631 shares of the asset manager’s stock valued at $4,598,000 after buying an additional 1,405 shares during the period. Voya Investment Management LLC increased its stake in Affiliated Managers Group by 3.8% during the 2nd quarter. Voya Investment Management LLC now owns 50,635 shares of the asset manager’s stock valued at $7,528,000 after buying an additional 1,835 shares during the period. Finally, First National Bank of Omaha increased its stake in Affiliated Managers Group by 3.2% during the 3rd quarter. First National Bank of Omaha now owns 58,013 shares of the asset manager’s stock valued at $8,887,000 after buying an additional 1,792 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on AMG shares. Deutsche Bank lowered their target price on shares of 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. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Citigroup lowered their target price on shares of Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. Finally, Barrington Research lowered their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Affiliated Managers Group has a consensus rating of “Hold” and a consensus target price of $189.75.
Shares of AMG opened at $105.15 on Wednesday. The company has a market capitalization of $5.85 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49. Affiliated Managers Group, Inc. has a 12-month low of $104.84 and a 12-month high of $216.99.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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. The company had revenue of $601.30 million for the quarter, compared to analysts’ expectations of $604.82 million. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 EPS. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 14.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th were paid a $0.30 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.
In other news, Director Patrick T. Ryan sold 2,034 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $112.78, for a total value of $229,394.52. Following the transaction, the director now owns 14,821 shares of the company’s stock, valued at approximately $1,671,512.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hugh Cutler acquired 1,564 shares of the stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $115.48 per share, for a total transaction of $180,610.72. Following the purchase, the executive vice president now directly owns 7,087 shares in the company, valued at $818,406.76. The disclosure for this purchase can be found here. Insiders own 0.91% of the company’s stock.
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About Affiliated Managers Group
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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