Hi Line Capital Management LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 90.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 44,702 shares of the asset manager’s stock after acquiring an additional 21,238 shares during the quarter. Affiliated Managers Group accounts for 2.3% of Hi Line Capital Management LLC’s holdings, making the stock its 21st largest position. Hi Line Capital Management LLC’s holdings in Affiliated Managers Group were worth $4,788,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AMG. Proficio Capital Partners LLC increased its holdings in shares of Affiliated Managers Group by 1,295.5% during the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock worth $30,000 after purchasing an additional 285 shares during the period. JOYN Advisors Inc. increased its holdings in shares of Affiliated Managers Group by 649.1% during the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after purchasing an additional 344 shares during the period. Osborn Williams & Donohoe LLC bought a new position in shares of Affiliated Managers Group during the 1st quarter worth about $39,000. CSat Investment Advisory L.P. increased its holdings in shares of Affiliated Managers Group by 173.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock worth $50,000 after purchasing an additional 328 shares during the period. Finally, Covington Capital Management bought a new position in shares of Affiliated Managers Group during the 4th quarter worth about $52,000. Institutional investors own 94.65% of the company’s stock.
NYSE AMG opened at $88.36 on Monday. The stock has a market capitalization of $4.52 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 0.62 and a beta of 1.63. Affiliated Managers Group, Inc. has a twelve month low of $83.10 and a twelve month high of $163.55.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($0.01). The business had revenue of $543.10 million during the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.92 EPS. On average, equities analysts expect that Affiliated Managers Group, Inc. will post 13.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.45%. Affiliated Managers Group’s payout ratio is currently 8.83%.
Several research analysts have recently issued reports on AMG shares. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine upgraded shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Barrington Research restated a “buy” rating and set a $135.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, April 30th. Deutsche Bank dropped their price objective on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Finally, Bank of America reissued a “buy” rating and issued a $97.00 target price (down previously from $113.00) on shares of Affiliated Managers Group in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $126.73.
In other Affiliated Managers Group news, insider Jay C. Horgen bought 11,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $93.19 per share, with a total value of $1,025,090.00. Following the completion of the purchase, the insider now directly owns 115,527 shares in the company, valued at approximately $10,765,961.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.43% of the company’s stock.
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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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