Riverpark Capital Management LLC lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,658 shares of the asset manager’s stock after selling 8,475 shares during the period. Riverpark Capital Management LLC owned 0.09% of Affiliated Managers Group worth $10,398,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Forte Capital LLC ADV increased its holdings in shares of Affiliated Managers Group by 2.7% in the fourth quarter. Forte Capital LLC ADV now owns 18,512 shares of the asset manager’s stock valued at $3,799,000 after purchasing an additional 495 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Affiliated Managers Group by 31.6% in the third quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock valued at $6,824,000 after purchasing an additional 8,641 shares in the last quarter. Rhumbline Advisers boosted its stake in Affiliated Managers Group by 2.1% in the third quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock valued at $19,627,000 after acquiring an additional 2,148 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Affiliated Managers Group by 16.3% in the third quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock valued at $112,364,000 after acquiring an additional 83,018 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Affiliated Managers Group in the third quarter valued at approximately $513,000. 96.62% of the stock is owned by institutional investors and hedge funds.
AMG has been the topic of a number of recent research reports. Deutsche Bank raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and reduced their price objective for the company from $216.00 to $215.00 in a research note on Tuesday, February 13th. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Citigroup raised their price objective on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Credit Suisse Group cut shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research note on Wednesday, January 3rd. Finally, Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a research note on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $228.00.
Affiliated Managers Group, Inc. (NYSE AMG) opened at $196.11 on Monday. The firm has a market cap of $10,687.25, a price-to-earnings ratio of 16.25, a PEG ratio of 0.70 and a beta of 1.55. Affiliated Managers Group, Inc. has a 52-week low of $148.81 and a 52-week high of $216.99. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.55 by $0.13. The company had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $3.80 earnings per share. research analysts anticipate that Affiliated Managers Group, Inc. will post 17.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 9.94%.
Affiliated Managers Group declared that its Board of Directors has authorized a share repurchase program on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Affiliated Managers Group Company 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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