Pioneer Investment Management Inc. increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 59.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 279,076 shares of the asset manager’s stock after buying an additional 103,816 shares during the period. Pioneer Investment Management Inc. owned about 0.49% of Affiliated Managers Group worth $46,288,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullinan Associates Inc. bought a new position in Affiliated Managers Group during the first quarter valued at $1,139,000. Tompkins Financial Corp boosted its position in Affiliated Managers Group by 750.0% in the first quarter. Tompkins Financial Corp now owns 2,040 shares of the asset manager’s stock valued at $331,000 after buying an additional 1,800 shares during the last quarter. American National Bank boosted its position in Affiliated Managers Group by 823.1% in the first quarter. American National Bank now owns 15,130 shares of the asset manager’s stock valued at $2,481,000 after buying an additional 13,491 shares during the last quarter. Capstone Asset Management Co. boosted its position in Affiliated Managers Group by 35.4% in the first quarter. Capstone Asset Management Co. now owns 3,445 shares of the asset manager’s stock valued at $565,000 after buying an additional 901 shares during the last quarter. Finally, First National Bank of Omaha boosted its position in Affiliated Managers Group by 10.7% in the first quarter. First National Bank of Omaha now owns 52,908 shares of the asset manager’s stock valued at $9,178,000 after buying an additional 5,098 shares during the last quarter. 95.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Affiliated Managers Group, Inc. (NYSE AMG) traded down 0.09% during mid-day trading on Friday, reaching $172.84. 267,741 shares of the company’s stock were exchanged. Affiliated Managers Group, Inc. has a one year low of $130.48 and a one year high of $187.08. The company’s 50-day moving average price is $176.68 and its 200-day moving average price is $165.25. The company has a market capitalization of $9.67 billion, a PE ratio of 19.15 and a beta of 1.65.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The company had revenue of $570.90 million during the quarter, compared to analyst estimates of $573.73 million. During the same period last year, the firm posted $3.07 EPS. Affiliated Managers Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 8.87%.
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Several research firms have recently weighed in on AMG. Jefferies Group LLC reissued a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, August 1st. BidaskClub cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Credit Suisse Group boosted their price objective on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Affiliated Managers Group currently has a consensus rating of “Buy” and an average target price of $195.50.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the completion of the transaction, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at approximately $33,291,397.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the transaction, the director now directly owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
About Affiliated Managers Group
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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