First National Bank of Omaha grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,013 shares of the asset manager’s stock after purchasing an additional 1,792 shares during the period. First National Bank of Omaha owned approximately 0.11% of Affiliated Managers Group worth $8,887,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation bought a new stake in shares of Affiliated Managers Group in the third quarter valued at about $170,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Affiliated Managers Group in the first quarter valued at about $247,000. Alta Capital Management LLC bought a new stake in shares of Affiliated Managers Group in the third quarter valued at about $227,000. Point72 Hong Kong Ltd bought a new stake in shares of Affiliated Managers Group in the second quarter valued at about $263,000. Finally, Creative Planning bought a new stake in shares of Affiliated Managers Group in the third quarter valued at about $251,000. Institutional investors own 93.07% of the company’s stock.
AMG opened at $114.78 on Tuesday. Affiliated Managers Group, Inc. has a 52-week low of $110.27 and a 52-week high of $216.99. The stock has a market cap of $6.24 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The business had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same quarter in the prior year, the company posted $3.41 earnings per share. Affiliated Managers Group’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group, Inc. will post 14.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Thursday, November 8th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.20 annualized dividend and a yield of 1.05%. Affiliated Managers Group’s payout ratio is presently 8.22%.
A number of brokerages have recently commented on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price target on the stock in a report on Monday, July 30th. Barrington Research cut their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Citigroup cut their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Deutsche Bank dropped their target price on Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $190.50.
In related news, EVP Hugh Cutler bought 1,564 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average price of $115.48 per share, for a total transaction of $180,610.72. Following the completion of the acquisition, the executive vice president now owns 7,087 shares of the company’s stock, valued at approximately $818,406.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.91% of the company’s stock.
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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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