Quantbot Technologies LP grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 66.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,514 shares of the asset manager’s stock after purchasing an additional 4,603 shares during the period. Quantbot Technologies LP’s holdings in Affiliated Managers Group were worth $1,574,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC boosted its position in Affiliated Managers Group by 24.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock worth $149,000 after purchasing an additional 5,698 shares in the last quarter. Zions Bancorporation purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $170,000. Trust Co. of Toledo NA OH purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $202,000. Candriam Luxembourg S.C.A. purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $204,000. Finally, Alta Capital Management LLC acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth approximately $227,000. Institutional investors and hedge funds own 91.80% of the company’s stock.
In other Affiliated Managers Group news, EVP Hugh Cutler bought 1,564 shares of Affiliated Managers Group stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $115.48 per share, with a total value of $180,610.72. Following the purchase, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight D. Churchill sold 2,034 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $110.53, for a total value of $224,818.02. Following the transaction, the director now directly owns 6,522 shares of the company’s stock, valued at $720,876.66. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.03. The business had revenue of $601.30 million during the quarter, compared to the consensus estimate of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 14.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, November 7th. Affiliated Managers Group’s payout ratio is 8.22%.
Several brokerages have recently weighed in on AMG. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Barrington Research reduced their target price on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, October 29th. Citigroup reduced their target price on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, Deutsche Bank reduced their target price on Affiliated Managers Group from $164.00 to $158.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Affiliated Managers Group currently has an average rating of “Hold” and an average target price of $189.75.
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About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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