JPMorgan Chase & Co. Acquires 83,018 Shares of Affiliated Managers Group, Inc. (AMG)

JPMorgan Chase & Co. boosted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 16.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593,301 shares of the asset manager’s stock after purchasing an additional 83,018 shares during the quarter. JPMorgan Chase & Co. owned about 1.07% of Affiliated Managers Group worth $112,364,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMG. The Manufacturers Life Insurance Company raised its stake in Affiliated Managers Group by 60.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock valued at $595,663,000 after purchasing an additional 1,359,805 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Affiliated Managers Group by 42.2% during the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock valued at $320,494,000 after purchasing an additional 573,066 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Affiliated Managers Group by 156.0% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 714,516 shares of the asset manager’s stock valued at $135,637,000 after purchasing an additional 435,440 shares in the last quarter. Janus Henderson Group PLC raised its stake in Affiliated Managers Group by 333.2% during the second quarter. Janus Henderson Group PLC now owns 518,866 shares of the asset manager’s stock valued at $86,059,000 after purchasing an additional 399,083 shares in the last quarter. Finally, FMR LLC raised its stake in Affiliated Managers Group by 33.8% during the second quarter. FMR LLC now owns 1,146,357 shares of the asset manager’s stock valued at $190,134,000 after purchasing an additional 289,885 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at $197.85 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $139.52 and a 12 month high of $202.09. The firm has a market cap of $10,996.88, a price-to-earnings ratio of 14.39, a PEG ratio of 0.93 and a beta of 1.71. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $585.70 million for the quarter, compared to the consensus estimate of $586.55 million. During the same quarter in the prior year, the firm posted $3.02 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. sell-side analysts expect that Affiliated Managers Group, Inc. will post 14.44 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, November 8th. Affiliated Managers Group’s dividend payout ratio is currently 8.66%.

A number of equities research analysts recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and set a $226.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Barrington Research reaffirmed an “outperform” rating and set a $215.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price target on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $207.25.

In other news, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the transaction, the director now directly owns 6,104 shares in the company, valued at $1,124,845.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick T. Ryan sold 7,705 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $185.27, for a total transaction of $1,427,505.35. Following the completion of the transaction, the director now owns 6,797 shares in the company, valued at $1,259,280.19. The disclosure for this sale can be found here. In the last three months, insiders sold 79,585 shares of company stock worth $14,757,312. Insiders own 1.40% of the company’s stock.

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

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