Conning Inc. Buys New Holdings in Affiliated Managers Group, Inc. (AMG)

Conning Inc. bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,071 shares of the asset manager’s stock, valued at approximately $203,000.

Other hedge funds have also recently modified their holdings of the company. Douglas Lane & Associates LLC bought a new stake in shares of Affiliated Managers Group in the third quarter worth about $200,000. Schroder Investment Management Group increased its holdings in shares of Affiliated Managers Group by 8.3% in the second quarter. Schroder Investment Management Group now owns 383,937 shares of the asset manager’s stock worth $63,353,000 after purchasing an additional 29,297 shares during the last quarter. BB&T Corp increased its holdings 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 worth $1,168,000 after purchasing an additional 1,143 shares during the last quarter. Pier 88 Investment Partners LLC increased its holdings in shares of 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 purchasing an additional 500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Affiliated Managers Group by 2.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 157,344 shares of the asset manager’s stock worth $26,097,000 after purchasing an additional 4,428 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $229.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $226.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Barrington Research reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Affiliated Managers Group has an average rating of “Buy” and an average price target of $207.25.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The firm had revenue of $585.70 million during the quarter, compared to the consensus estimate of $586.55 million. During the same quarter in the prior year, the firm earned $3.02 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.66%.

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

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