JPMorgan Chase & Co. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 16.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 593,301 shares of the asset manager’s stock after acquiring an additional 83,018 shares during the period. JPMorgan Chase & Co. owned 1.07% of Affiliated Managers Group worth $112,364,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in Affiliated Managers Group in the 3rd quarter worth approximately $100,000. Creative Planning boosted its stake in shares of Affiliated Managers Group by 15.0% in the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock valued at $117,000 after purchasing an additional 92 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Affiliated Managers Group by 46.2% in the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 16 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of Affiliated Managers Group by 78.5% in the 2nd quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 431 shares in the last quarter. 95.93% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on AMG shares. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $229.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Affiliated Managers Group in a research report on Friday, August 18th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $207.25.
Shares of Affiliated Managers Group, Inc. (AMG) traded down $1.25 during trading hours on Wednesday, hitting $196.75. 424,800 shares of the stock traded hands, compared to its average volume of 407,540. Affiliated Managers Group, Inc. has a 52-week low of $139.52 and a 52-week high of $202.09. The company has a market cap of $11,005.22, a PE ratio of 14.40, a PEG ratio of 0.93 and a beta of 1.71. 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 released its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.05. The firm had revenue of $585.70 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.02 earnings per share. equities analysts forecast that Affiliated Managers Group, Inc. will post 14.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Wednesday, November 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.66%.
In related news, insider Peter W. Macewen sold 10,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the completion of the sale, the insider now directly owns 37,682 shares in the company, valued at $7,448,600.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean M. Healey sold 69,800 shares of Affiliated Managers Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the completion of the sale, the chief executive officer now owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,585 shares of company stock valued at $16,734,012. 1.40% of the stock is currently owned by insiders.
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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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