Sciencast Management LP purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,109 shares of the asset manager’s stock, valued at approximately $429,000.
Other large investors have also recently made changes to their positions in the company. ACR Alpine Capital Research LLC acquired a new stake in shares of Affiliated Managers Group in the 1st quarter valued at $92,959,000. Norges Bank acquired a new stake in Affiliated Managers Group in the fourth quarter valued at about $43,871,000. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Affiliated Managers Group by 1,645.7% in the second quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 521,298 shares of the asset manager’s stock valued at $38,867,000 after acquiring an additional 491,436 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Affiliated Managers Group by 4,078.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 468,408 shares of the asset manager’s stock worth $27,702,000 after acquiring an additional 457,197 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Affiliated Managers Group by 4.9% in the first quarter. EdgePoint Investment Group Inc. now owns 8,538,920 shares of the asset manager’s stock worth $504,992,000 after acquiring an additional 398,760 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on AMG. ValuEngine raised shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Monday, June 29th. Bank of America increased their price target on Affiliated Managers Group from $70.00 to $71.00 and gave the company an “underperform” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Monday, April 6th. Finally, Credit Suisse Group dropped their target price on Affiliated Managers Group from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.50.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 27th. The asset manager reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.03. The company had revenue of $471.10 million during the quarter, compared to analysts’ expectations of $451.28 million. Affiliated Managers Group had a return on equity of 18.94% and a net margin of 5.95%. The business’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.33 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 11.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.04 annualized dividend and a yield of 0.06%. Affiliated Managers Group’s payout ratio is 0.28%.
In other news, Director Dwight D. Churchill purchased 1,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $71.83 per share, with a total value of $71,830.00. Following the completion of the transaction, the director now owns 10,069 shares of the company’s stock, valued at approximately $723,256.27. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay C. Horgen purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $59.26 per share, with a total value of $592,600.00. Following the completion of the acquisition, the chief executive officer now owns 137,667 shares in the company, valued at approximately $8,158,146.42. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by company insiders.
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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