Affiliated Managers Group, Inc. (NYSE:AMG) Director Dwight D. Churchill bought 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of $65.25 per share, with a total value of $65,250.00. Following the completion of the transaction, the director now directly owns 12,069 shares of the company’s stock, valued at approximately $787,502.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AMG stock traded up $0.59 during midday trading on Wednesday, hitting $65.88. The stock had a trading volume of 171 shares, compared to its average volume of 360,171. The firm has a market cap of $3.04 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48. The business has a fifty day moving average price of $70.22 and a two-hundred day moving average price of $67.78. Affiliated Managers Group, Inc. has a 1-year low of $44.37 and a 1-year high of $89.19.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 27th. The asset manager reported $2.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.03. Affiliated Managers Group had a return on equity of 18.94% and a net margin of 5.95%. The firm had revenue of $471.10 million during the quarter, compared to analyst estimates of $451.28 million. During the same period last year, the company posted $3.33 EPS. The business’s quarterly revenue was down 20.4% on a year-over-year basis. Analysts predict that Affiliated Managers Group, Inc. will post 11.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.01 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. Affiliated Managers Group’s payout ratio is currently 0.28%.
A number of institutional investors and hedge funds have recently modified their holdings of AMG. Cerebellum GP LLC bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $49,000. CX Institutional bought a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $30,000. Asset Management One Co. Ltd. purchased a new stake in shares of Affiliated Managers Group in the first quarter worth approximately $30,000. C M Bidwell & Associates Ltd. bought a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $32,000. Finally, Twin Tree Management LP bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $53,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on AMG shares. Bank of America boosted their price target on Affiliated Managers Group from $70.00 to $71.00 and gave the stock an “underperform” rating in a report on Friday, July 10th. Deutsche Bank cut their price target on shares of Affiliated Managers Group from $85.00 to $81.00 and set a “hold” rating on the stock in a report on Thursday, July 9th. Credit Suisse Group decreased their price objective on Affiliated Managers Group from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, July 28th. Barrington Research raised their target price on Affiliated Managers Group from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.50.
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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