Laurion Capital Management LP lifted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 25.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,108 shares of the asset manager’s stock after acquiring an additional 5,776 shares during the period. Laurion Capital Management LP’s holdings in Affiliated Managers Group were worth $4,179,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $104,000. Cornerstone Wealth Management LLC purchased a new position in Affiliated Managers Group during the second quarter valued at approximately $156,000. Cerebellum GP LLC purchased a new position in Affiliated Managers Group during the second quarter valued at approximately $172,000. ClariVest Asset Management LLC purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $175,000. Finally, Koch Industries Inc. purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $209,000. 94.22% of the stock is currently owned by institutional investors and hedge funds.
NYSE AMG opened at $142.71 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48. Affiliated Managers Group, Inc. has a 12-month low of $141.09 and a 12-month high of $216.99.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.59 by $0.02. The firm had revenue of $600.10 million during the quarter, compared to analysts’ expectations of $604.68 million. Affiliated Managers Group had a net margin of 29.59% and a return on equity of 19.44%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.33 earnings per share. analysts anticipate that Affiliated Managers Group, Inc. will post 15.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.22%.
A number of analysts have issued reports on the stock. ValuEngine cut shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Citigroup lifted their target price on shares of Affiliated Managers Group from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Deutsche Bank reduced their target price on shares of Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Zacks Investment Research cut shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price for the company in a research note on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $207.63.
About Affiliated Managers Group
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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