Hi Line Capital Management LLC Grows Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

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Hi Line Capital Management LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,957 shares of the asset manager’s stock after acquiring an additional 255 shares during the quarter. Affiliated Managers Group makes up about 1.9% of Hi Line Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Hi Line Capital Management LLC owned approximately 0.09% of Affiliated Managers Group worth $4,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Alta Capital Management LLC increased its stake in Affiliated Managers Group by 4.7% during the 2nd quarter. Alta Capital Management LLC now owns 2,685 shares of the asset manager’s stock worth $247,000 after buying an additional 120 shares in the last quarter. OLD National Bancorp IN increased its position in shares of Affiliated Managers Group by 9.2% during the second quarter. OLD National Bancorp IN now owns 9,106 shares of the asset manager’s stock worth $839,000 after acquiring an additional 766 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Affiliated Managers Group by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after acquiring an additional 7,655 shares during the period. Barr E S & Co. increased its holdings in Affiliated Managers Group by 9.8% in the second quarter. Barr E S & Co. now owns 177,206 shares of the asset manager’s stock valued at $16,328,000 after buying an additional 15,824 shares during the last quarter. Finally, Regal Investment Advisors LLC increased its holdings in Affiliated Managers Group by 7.8% in the second quarter. Regal Investment Advisors LLC now owns 15,187 shares of the asset manager’s stock valued at $1,399,000 after buying an additional 1,096 shares during the last quarter. 94.53% of the stock is owned by hedge funds and other institutional investors.

Shares of AMG stock opened at $89.07 on Friday. The stock has a market capitalization of $4.37 billion, a PE ratio of 6.14, a PEG ratio of 0.64 and a beta of 1.64. Affiliated Managers Group, Inc. has a one year low of $73.90 and a one year high of $147.94. The business’s 50 day simple moving average is $79.90 and its 200 day simple moving average is $94.17.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.14. Affiliated Managers Group had a positive return on equity of 17.68% and a negative net margin of 5.19%. The business had revenue of $591.90 million during the quarter, compared to analyst estimates of $540.89 million. During the same period in the prior year, the firm posted $3.61 EPS. Affiliated Managers Group’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 13.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.83%.

In other news, Director Jide James Zeitlin sold 54,350 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $92.22, for a total transaction of $5,012,157.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nathaniel Dalton sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $76.86, for a total value of $1,767,780.00. Following the transaction, the director now directly owns 208,346 shares in the company, valued at $16,013,473.56. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.

Several brokerages have recently weighed in on AMG. Barrington Research decreased their target price on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Citigroup lowered their target price on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Bank of America lowered shares of Affiliated Managers Group from a “buy” rating to an “underperform” rating and decreased their price target for the company from $97.00 to $85.00 in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Affiliated Managers Group currently has an average rating of “Hold” and an average target price of $109.84.

About Affiliated Managers Group

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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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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