Quantitative Investment Management LLC decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 50.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 42,800 shares of the asset manager’s stock after selling 44,200 shares during the quarter. Quantitative Investment Management LLC’s holdings in Affiliated Managers Group were worth $8,784,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFM Investors Pty Ltd bought a new stake in Affiliated Managers Group during the fourth quarter worth about $201,000. Waldron LP bought a new stake in Affiliated Managers Group during the fourth quarter worth about $201,000. Canandaigua National Bank & Trust Co. bought a new stake in Affiliated Managers Group during the fourth quarter worth about $204,000. Advisor Group Inc. lifted its position in Affiliated Managers Group by 38.5% during the third quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after purchasing an additional 278 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI bought a new stake in Affiliated Managers Group during the fourth quarter worth about $205,000. 96.33% of the stock is owned by institutional investors and hedge funds.
AMG has been the subject of several recent analyst reports. Citigroup raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Credit Suisse Group reissued a “hold” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Friday, January 12th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a report on Tuesday, January 2nd. Barrington Research increased their target price 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. Finally, Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price for the company. in a report on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $228.00.
Affiliated Managers Group, Inc. (NYSE AMG) opened at $196.11 on Friday. The company has a market cap of $10,687.21, a PE ratio of 13.40, a PEG ratio of 0.70 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. Affiliated Managers Group, Inc. has a fifty-two week low of $148.81 and a fifty-two week high of $216.99.
Affiliated Managers Group (NYSE:AMG) last posted its 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 firm 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.80 earnings per share. equities research analysts forecast 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. Investors of record on Thursday, February 8th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date 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 (DPR) is 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 repurchase 3,400,000 shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication 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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