Meadow Creek Investment Management LLC lessened its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,788 shares of the asset manager’s stock after selling 5,488 shares during the period. Meadow Creek Investment Management LLC owned 0.12% of Affiliated Managers Group worth $13,914,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Affiliated Managers Group by 122.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,277 shares of the asset manager’s stock worth $671,000 after buying an additional 1,806 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Affiliated Managers Group by 8.7% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 10,451 shares of the asset manager’s stock worth $2,144,000 after buying an additional 839 shares during the last quarter. Raymond James & Associates raised its stake in Affiliated Managers Group by 24.6% during the fourth quarter. Raymond James & Associates now owns 58,889 shares of the asset manager’s stock worth $12,087,000 after buying an additional 11,624 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Affiliated Managers Group during the fourth quarter worth $3,230,000. Finally, Guggenheim Capital LLC raised its stake in Affiliated Managers Group by 2.1% during the fourth quarter. Guggenheim Capital LLC now owns 193,640 shares of the asset manager’s stock worth $39,744,000 after buying an additional 3,935 shares during the last quarter. 96.62% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank reduced their price target on shares of Affiliated Managers Group from $215.00 to $213.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Barrington Research raised their price target on shares of Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup raised their price target on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group restated a “hold” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a report on Friday, January 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $228.00.
Shares of Affiliated Managers Group, Inc. (AMG) opened at $194.95 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. The company has a market cap of $10,612.05, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.55. Affiliated Managers Group, Inc. has a twelve month low of $148.81 and a twelve month high of $216.99.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $0.13. The business had revenue of $604.10 million during 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% on a year-over-year basis. During the same period last year, the company posted $3.80 earnings per share. equities analysts predict that Affiliated Managers Group, Inc. will post 17.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. 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 initiated a share repurchase plan on Monday, January 29th that allows the company to buyback 3,400,000 shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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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