Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,830 shares of the asset manager’s stock after purchasing an additional 677 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Affiliated Managers Group were worth $1,676,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Tributary Capital Management LLC purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $100,000. Creative Planning raised its holdings in shares of Affiliated Managers Group by 15.0% during the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after acquiring an additional 92 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares in the last quarter. Finally, Financial Architects Inc raised its holdings in shares of Affiliated Managers Group by 2.1% during the 2nd quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.
In related news, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the sale, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at $184.36 on Monday. Affiliated Managers Group, Inc. has a twelve month low of $139.15 and a twelve month high of $198.40. The firm has a market capitalization of $10,247.08, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.87 and a beta of 1.70. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The company had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter in the prior year, the firm posted $3.02 EPS. Affiliated Managers Group’s quarterly revenue was up 7.5% compared to the same quarter last year. equities analysts forecast that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 0.43%. Affiliated Managers Group’s payout ratio is presently 8.66%.
AMG has been the topic of several recent research reports. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Credit Suisse Group upped their price objective on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a report on Friday, August 18th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $207.25.
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About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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