Dwight D. Churchill Purchases 1,000 Shares of Affiliated Managers Group, Inc. (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) Director Dwight D. Churchill purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $65.25 per share, for a total transaction of $65,250.00. Following the acquisition, the director now owns 12,069 shares of the company’s stock, valued at approximately $787,502.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NYSE:AMG traded up $0.59 during mid-day trading on Wednesday, reaching $65.88. The stock had a trading volume of 171 shares, compared to its average volume of 360,171. The stock has a market capitalization of $3.04 billion, a P/E ratio of 26.22, a P/E/G ratio of 0.46 and a beta of 1.48. The firm has a 50 day moving average price of $70.22 and a two-hundred day moving average price of $67.78. Affiliated Managers Group, Inc. has a one year low of $44.37 and a one year high of $89.19.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 27th. The asset manager reported $2.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.03. Affiliated Managers Group had a net margin of 5.95% and a return on equity of 18.94%. The firm had revenue of $471.10 million during the quarter, compared to analyst estimates of $451.28 million. During the same period in the previous year, the business posted $3.33 EPS. The business’s quarterly revenue was down 20.4% on a year-over-year basis. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 11.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was 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%.

Large investors have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new position in shares of Affiliated Managers Group in the second quarter worth about $49,000. CX Institutional bought a new position in Affiliated Managers Group during the 2nd quarter worth approximately $30,000. Asset Management One Co. Ltd. purchased a new position in Affiliated Managers Group in the 1st quarter worth approximately $30,000. C M Bidwell & Associates Ltd. bought a new stake in Affiliated Managers Group in the first quarter valued at approximately $32,000. Finally, Twin Tree Management LP purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $53,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

AMG has been the subject of several recent analyst reports. Credit Suisse Group reduced 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. Bank of America boosted their price objective on Affiliated Managers Group from $70.00 to $71.00 and gave the stock an “underperform” rating in a report on Friday, July 10th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Monday, June 29th. Deutsche Bank cut their price target on shares of Affiliated Managers Group from $85.00 to $81.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Finally, ValuEngine lowered shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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