Front Barnett Associates LLC grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,218 shares of the asset manager’s stock after purchasing an additional 2,046 shares during the quarter. Front Barnett Associates LLC owned about 0.10% of Affiliated Managers Group worth $7,003,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd increased its holdings in shares of Affiliated Managers Group by 69.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 1,925 shares of the asset manager’s stock worth $286,000 after acquiring an additional 786 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Affiliated Managers Group by 22.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,440 shares of the asset manager’s stock worth $1,996,000 after acquiring an additional 2,490 shares during the last quarter. Forte Capital LLC ADV increased its holdings in shares of Affiliated Managers Group by 2.9% during the 2nd quarter. Forte Capital LLC ADV now owns 20,147 shares of the asset manager’s stock worth $2,995,000 after acquiring an additional 575 shares during the last quarter. LGT Capital Partners LTD. increased its holdings in shares of Affiliated Managers Group by 86.7% during the 2nd quarter. LGT Capital Partners LTD. now owns 192,251 shares of the asset manager’s stock worth $28,582,000 after acquiring an additional 89,266 shares during the last quarter. Finally, Scout Investments Inc. increased its holdings in shares of Affiliated Managers Group by 48.8% during the 2nd quarter. Scout Investments Inc. now owns 96,899 shares of the asset manager’s stock worth $14,406,000 after acquiring an additional 31,765 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AMG opened at $115.24 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. Affiliated Managers Group, Inc. has a one year low of $110.27 and a one year high of $216.99. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.65 and a beta of 1.53.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The firm had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same period in the prior year, the firm posted $3.41 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group, Inc. will post 14.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio is 8.22%.
In other news, EVP Hugh Cutler acquired 1,564 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were purchased at an average cost of $115.48 per share, with a total value of $180,610.72. Following the acquisition, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.91% of the company’s stock.
AMG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Deutsche Bank decreased their target price on Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Citigroup decreased their target price on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Keefe, Bruyette & Woods raised Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price on the stock in a report on Monday, July 30th. Finally, Barrington Research decreased their target price on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Affiliated Managers Group currently has a consensus rating of “Hold” and a consensus target price of $190.50.
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Affiliated Managers Group Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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