Lazard Asset Management LLC reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 60.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,845 shares of the asset manager’s stock after selling 35,577 shares during the period. Lazard Asset Management LLC’s holdings in Affiliated Managers Group were worth $4,688,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AMG. Advisor Group Inc. boosted its position in Affiliated Managers Group by 38.5% in the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock valued at $190,000 after buying an additional 278 shares during the last quarter. Waldron LP purchased a new position in Affiliated Managers Group in the 4th quarter valued at about $201,000. IFM Investors Pty Ltd purchased a new position in Affiliated Managers Group in the 4th quarter valued at about $201,000. Canandaigua National Bank & Trust Co. purchased a new position in Affiliated Managers Group in the 4th quarter valued at about $204,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI purchased a new position in Affiliated Managers Group in the 4th quarter valued at about $205,000. 96.33% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on AMG shares. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research report on Tuesday, January 2nd. Citigroup upped their target price 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. Deutsche Bank cut their target price on shares of Affiliated Managers Group from $215.00 to $213.00 and set a “buy” rating on the stock in a research note on Tuesday. Credit Suisse Group restated a “hold” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a research note on Friday, January 12th. Finally, Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price on the stock. in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $228.00.
Shares of Affiliated Managers Group, Inc. (AMG) opened at $196.11 on Friday. The stock has a market cap of $10,438.20, a PE ratio of 13.09, a PEG ratio of 0.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.59. Affiliated Managers Group, Inc. has a 12 month low of $148.81 and a 12 month high of $216.99.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $0.13. The business had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.80 EPS. sell-side analysts forecast that Affiliated Managers Group, Inc. will post 17.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, February 7th. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s dividend payout ratio is 9.94%.
Affiliated Managers Group announced that its board has authorized a stock repurchase program on Monday, January 29th that allows the company to buyback 3,400,000 outstanding shares. This buyback authorization allows the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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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