Zions Bancorporation bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,810 shares of the asset manager’s stock, valued at approximately $344,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tributary Capital Management LLC bought a new stake in Affiliated Managers Group during the third quarter worth $100,000. Creative Planning raised its position in Affiliated Managers Group by 15.0% during the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after acquiring an additional 92 shares in the last quarter. Advisor Group Inc. raised its position in Affiliated Managers Group by 46.2% during the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Affiliated Managers Group by 2.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Affiliated Managers Group by 78.5% during the second quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock worth $163,000 after acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.
In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at $7,448,600.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the sale, the chief executive officer now owns 194,943 shares in the company, valued at $36,158,027.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,585 shares of company stock worth $16,734,012. 1.40% of the stock is owned by insiders.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $586.55 million. During the same period last year, the firm earned $3.02 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 7.5% compared to the same quarter last year. analysts anticipate that Affiliated Managers Group, Inc. will post 14.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, November 8th. Affiliated Managers Group’s dividend payout ratio is 8.66%.
Several equities analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research report on Friday, August 18th. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $229.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $207.25.
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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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