Regal Investment Advisors LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,956 shares of the asset manager’s stock, valued at approximately $1,771,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. EdgePoint Investment Group Inc. boosted its holdings in Affiliated Managers Group by 28.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock worth $432,145,000 after acquiring an additional 648,919 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Affiliated Managers Group by 17.7% during the 2nd quarter. Sterling Capital Management LLC now owns 802,258 shares of the asset manager’s stock worth $119,272,000 after acquiring an additional 120,592 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Affiliated Managers Group by 91.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock worth $86,844,000 after acquiring an additional 278,337 shares during the last quarter. American Century Companies Inc. boosted its holdings in Affiliated Managers Group by 86.3% during the 2nd quarter. American Century Companies Inc. now owns 547,002 shares of the asset manager’s stock worth $81,323,000 after acquiring an additional 253,376 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Affiliated Managers Group during the 2nd quarter worth $61,787,000. 93.07% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:AMG opened at $117.00 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.01, a P/E/G ratio of 0.63 and a beta of 1.53. Affiliated Managers Group, Inc. has a fifty-two week low of $110.27 and a fifty-two week high of $216.99.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.03. The company had revenue of $601.30 million for the quarter, compared to the consensus estimate of $604.82 million. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post 14.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Thursday, November 8th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 8.22%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price objective on the stock in a report on Monday, July 30th. Barrington Research cut their price objective on shares of 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 objective on shares of 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 cut their price objective on shares of 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 assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $190.50.
In related news, EVP Hugh Cutler purchased 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were bought at an average cost of $115.48 per share, with a total value of $180,610.72. Following the acquisition, the executive vice president now owns 7,087 shares of the company’s stock, valued at $818,406.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.91% of the stock is currently owned by insiders.
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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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