Affiliated Managers Group, Inc. (NYSE:AMG) released its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09, Bloomberg Earnings reports. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The firm had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $573.73 million. During the same quarter last year, the company earned $3.07 EPS. Affiliated Managers Group’s quarterly revenue was up 3.0% on a year-over-year basis.
Affiliated Managers Group (NYSE AMG) opened at 172.84 on Friday. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 19.15 and a beta of 1.65. The company’s 50-day moving average is $176.68 and its 200 day moving average is $165.25. Affiliated Managers Group has a 12 month low of $130.48 and a 12 month high of $187.08.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.87%.
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In other Affiliated Managers Group news, Director Dwight D. Churchill sold 3,277 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now directly owns 7,301 shares in the company, valued at $1,192,253.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sean M. Healey sold 56,928 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the sale, the chief executive officer now owns 206,689 shares in the company, valued at $33,291,397.23. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. raised its stake in shares of Affiliated Managers Group by 6.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,882 shares of the asset manager’s stock valued at $8,014,000 after buying an additional 3,076 shares during the last quarter. BB&T Corp raised its stake in shares of Affiliated Managers Group by 19.4% in the second quarter. BB&T Corp now owns 7,042 shares of the asset manager’s stock valued at $1,168,000 after buying an additional 1,143 shares during the last quarter. Bank of Montreal Can raised its stake in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock worth $7,161,000 after buying an additional 13,540 shares during the last quarter. Pier 88 Investment Partners LLC raised its stake in Affiliated Managers Group by 25.0% in the second quarter. Pier 88 Investment Partners LLC now owns 2,500 shares of the asset manager’s stock worth $415,000 after buying an additional 500 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Affiliated Managers Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock worth $44,841,000 after buying an additional 29,626 shares during the last quarter. Hedge funds and other institutional investors own 95.29% of the company’s stock.
Affiliated Managers Group Company 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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