Duality Advisers LP Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Duality Advisers LP purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,968 shares of the asset manager’s stock, valued at approximately $1,414,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMG. Amundi Pioneer Asset Management Inc. raised its stake in shares of Affiliated Managers Group by 131.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,129 shares of the asset manager’s stock worth $6,013,000 after purchasing an additional 31,919 shares during the last quarter. Alliancebernstein L.P. raised its position in Affiliated Managers Group by 8.5% in the 4th quarter. Alliancebernstein L.P. now owns 87,883 shares of the asset manager’s stock worth $7,447,000 after buying an additional 6,868 shares during the last quarter. Profund Advisors LLC purchased a new position in Affiliated Managers Group in the 4th quarter worth about $291,000. Macquarie Group Ltd. lifted its stake in Affiliated Managers Group by 265.0% during the 4th quarter. Macquarie Group Ltd. now owns 158,400 shares of the asset manager’s stock valued at $13,422,000 after acquiring an additional 115,000 shares during the period. Finally, Norges Bank purchased a new stake in shares of Affiliated Managers Group during the 4th quarter valued at about $43,871,000. Institutional investors own 97.93% of the company’s stock.

NYSE:AMG opened at $68.79 on Friday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 0.48 and a beta of 1.56. The business has a fifty day moving average price of $72.54 and a 200-day moving average price of $70.83. Affiliated Managers Group, Inc. has a one year low of $44.37 and a one year high of $89.98.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 27th. The asset manager reported $2.74 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $471.10 million during the quarter, compared to analysts’ expectations of $451.28 million. During the same quarter in the prior year, the business posted $3.33 earnings per share. The business’s quarterly revenue was down 20.4% on a year-over-year basis. Research analysts anticipate that Affiliated Managers Group, Inc. will post 11.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend is Wednesday, August 5th. Affiliated Managers Group’s dividend payout ratio is 0.28%.

In other Affiliated Managers Group news, CEO Jay C. Horgen acquired 10,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $59.26 per share, for a total transaction of $592,600.00. Following the completion of the transaction, the chief executive officer now directly owns 137,667 shares of the company’s stock, valued at $8,158,146.42. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dwight D. Churchill acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $71.83 per share, with a total value of $71,830.00. Following the purchase, the director now owns 10,069 shares of the company’s stock, valued at $723,256.27. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research 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 report on Friday, July 10th. Deutsche Bank cut their price objective on Affiliated Managers Group from $85.00 to $81.00 and set a “hold” rating for the company in a report on Thursday, July 9th. Credit Suisse Group reduced their price objective 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $74.50.

Affiliated Managers Group 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.

See Also: Cash Flow

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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