Regal Investment Advisors LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,128 shares of the asset manager’s stock after purchasing an additional 172 shares during the quarter. Regal Investment Advisors LLC’s holdings in Affiliated Managers Group were worth $1,279,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. North Star Asset Management Inc. grew its position in shares of Affiliated Managers Group by 0.3% in the 4th quarter. North Star Asset Management Inc. now owns 91,291 shares of the asset manager’s stock worth $8,896,000 after buying an additional 255 shares during the period. Midas Management Corp grew its position in shares of Affiliated Managers Group by 33.3% in the 4th quarter. Midas Management Corp now owns 1,200 shares of the asset manager’s stock worth $117,000 after buying an additional 300 shares during the period. New Jersey Better Educational Savings Trust grew its position in shares of Affiliated Managers Group by 20.0% in the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,400 shares of the asset manager’s stock worth $328,000 after buying an additional 400 shares during the period. Guinness Asset Management Ltd grew its position in shares of Affiliated Managers Group by 21.9% in the 3rd quarter. Guinness Asset Management Ltd now owns 2,274 shares of the asset manager’s stock worth $310,000 after buying an additional 409 shares during the period. Finally, Legacy Bridge LLC purchased a new stake in shares of Affiliated Managers Group in the 4th quarter worth about $44,000. 93.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Affiliated Managers Group stock opened at $104.84 on Friday. The stock has a market capitalization of $5.72 billion, a P/E ratio of 7.23, a PEG ratio of 0.83 and a beta of 1.42. Affiliated Managers Group, Inc. has a 1 year low of $88.46 and a 1 year high of $197.03. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.44.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.51 by $0.02. The company had revenue of $564.40 million for the quarter, compared to analysts’ expectations of $568.99 million. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. Affiliated Managers Group’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.68 EPS. As a group, analysts expect that Affiliated Managers Group, Inc. will post 13.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be paid a $0.32 dividend. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.22%. Affiliated Managers Group’s payout ratio is presently 8.28%.
A number of analysts have recently weighed in on AMG shares. Credit Suisse Group reduced their target price on shares of Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Barrington Research reaffirmed a “buy” rating and issued a $135.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and issued a $130.00 target price (down from $155.00) on shares of Affiliated Managers Group in a research report on Thursday, December 6th. Citigroup reduced their target price on shares of Affiliated Managers Group from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Finally, Jefferies Financial Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price on the stock. in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $132.12.
In related news, Director Patrick T. Ryan sold 2,034 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $112.78, for a total value of $229,394.52. Following the transaction, the director now owns 14,821 shares in the company, valued at approximately $1,671,512.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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