Globeflex Capital L P acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 674 shares of the asset manager’s stock, valued at approximately $107,000.
A number of other institutional investors have also made changes to their positions in the business. IFP Advisors Inc increased its stake in Affiliated Managers Group by 56.2% during the third quarter. IFP Advisors Inc now owns 439 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 158 shares during the period. Parallel Advisors LLC increased its stake in Affiliated Managers Group by 62.2% during the fourth quarter. Parallel Advisors LLC now owns 219 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 84 shares during the period. Lazard Asset Management LLC increased its stake in Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares during the period. Lansing Street Advisors bought a new position in Affiliated Managers Group during the fourth quarter valued at about $51,000. Finally, Quadrant Capital Group LLC increased its stake in Affiliated Managers Group by 35.0% during the third quarter. Quadrant Capital Group LLC now owns 494 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 128 shares during the period. 95.31% of the stock is currently owned by institutional investors.
Insider Transactions at Affiliated Managers Group
In other news, Director Reuben Jeffery III acquired 3,650 shares of Affiliated Managers Group stock in a transaction on Thursday, March 16th. The shares were purchased at an average price of $137.21 per share, with a total value of $500,816.50. Following the acquisition, the director now owns 31,726 shares in the company, valued at $4,353,124.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its earnings results on Monday, May 1st. The asset manager reported $4.18 EPS for the quarter, topping the consensus estimate of $4.15 by $0.03. The business had revenue of $517.40 million for the quarter, compared to the consensus estimate of $539.25 million. Affiliated Managers Group had a return on equity of 19.63% and a net margin of 50.65%. Affiliated Managers Group’s revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.65 EPS. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 19.01 EPS for the current year.
Affiliated Managers Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 10th. Affiliated Managers Group’s payout ratio is currently 0.15%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on AMG. StockNews.com began coverage on Affiliated Managers Group in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Bank of America upped their price objective on Affiliated Managers Group from $182.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, April 5th. Barrington Research upped their price objective on Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, February 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average price target of $180.93.
Affiliated Managers Group Profile
Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.
- Get a free copy of the StockNews.com research report on Affiliated Managers Group (AMG)
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