Channing Capital Management LLC trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,610 shares of the asset manager’s stock after selling 8,571 shares during the quarter. Channing Capital Management LLC owned about 0.13% of Affiliated Managers Group worth $13,594,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Goelzer Investment Management Inc. increased its position in Affiliated Managers Group by 64.8% during the third quarter. Goelzer Investment Management Inc. now owns 24,565 shares of the asset manager’s stock worth $4,663,000 after acquiring an additional 9,663 shares during the period. Tocqueville Asset Management L.P. bought a new position in Affiliated Managers Group in the 3rd quarter valued at about $4,988,000. Conning Inc. bought a new position in Affiliated Managers Group in the 3rd quarter valued at about $203,000. Crossmark Global Holdings Inc. bought a new position in Affiliated Managers Group in the 3rd quarter valued at about $718,000. Finally, Calamos Advisors LLC increased its holdings in Affiliated Managers Group by 102.0% in the 3rd quarter. Calamos Advisors LLC now owns 226,214 shares of the asset manager’s stock valued at $42,942,000 after buying an additional 114,217 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Affiliated Managers Group, Inc. (NYSE:AMG) traded down $0.75 during midday trading on Monday, hitting $184.36. 239,400 shares of the stock were exchanged, compared to its average volume of 419,250. The firm has a market cap of $10,130.00, a P/E ratio of 13.41, a P/E/G ratio of 0.87 and a beta of 1.70. Affiliated Managers Group, Inc. has a 1 year low of $139.15 and a 1 year high of $198.40. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. The firm had revenue of $585.70 million for the quarter, compared to the consensus estimate of $586.55 million. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.02 EPS. sell-side analysts expect that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Affiliated Managers Group’s dividend payout ratio is currently 8.66%.
In other news, Director Dwight D. Churchill sold 2,080 shares of Affiliated Managers Group stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.
Several research firms have commented on AMG. Jefferies Group LLC reissued a “buy” rating and issued a $226.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $229.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Barrington Research reaffirmed an “outperform” rating and set a $215.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their price target on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $207.25.
Affiliated Managers Group Profile
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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