US Bancorp DE boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,517 shares of the asset manager’s stock after acquiring an additional 898 shares during the period. US Bancorp DE’s holdings in Affiliated Managers Group were worth $591,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC grew its position in shares of Affiliated Managers Group by 1,295.5% in the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock valued at $30,000 after buying an additional 285 shares during the last quarter. JOYN Advisors Inc. lifted its stake in shares of Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after acquiring an additional 344 shares during the period. Osborn Williams & Donohoe LLC acquired a new stake in shares of Affiliated Managers Group in the first quarter valued at about $39,000. CSat Investment Advisory L.P. lifted its stake in shares of Affiliated Managers Group by 173.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 328 shares during the period. Finally, Covington Capital Management acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $52,000. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
AMG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine raised shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Barrington Research reissued a “buy” rating and set a $135.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. Deutsche Bank cut their price target on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Finally, Bank of America reaffirmed a “buy” rating and issued a $97.00 price target (down from $113.00) on shares of Affiliated Managers Group in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $126.73.
In other Affiliated Managers Group news, insider Jay C. Horgen acquired 11,000 shares of Affiliated Managers Group stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $93.19 per share, with a total value of $1,025,090.00. Following the completion of the transaction, the insider now owns 115,527 shares of the company’s stock, valued at $10,765,961.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is currently owned by corporate insiders.
Shares of AMG traded down $0.58 during mid-day trading on Wednesday, hitting $89.43. The company’s stock had a trading volume of 7,744 shares, compared to its average volume of 556,218. Affiliated Managers Group, Inc. has a one year low of $83.10 and a one year high of $165.24. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 6.16, a P/E/G ratio of 0.64 and a beta of 1.63.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.27 by ($0.01). Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The business had revenue of $543.10 million during the quarter, compared to the consensus estimate of $541.42 million. During the same period in the prior year, the company posted $3.92 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 13.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.32 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.43%. Affiliated Managers Group’s dividend payout ratio is 8.83%.
Affiliated Managers Group 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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