King Luther Capital Management Corp lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 30.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,858 shares of the asset manager’s stock after selling 15,370 shares during the period. King Luther Capital Management Corp owned approximately 0.06% of Affiliated Managers Group worth $6,617,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AMG. Tributary Capital Management LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $100,000. Creative Planning raised its stake in shares of Affiliated Managers Group by 15.0% in the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after buying an additional 92 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Affiliated Managers Group by 46.2% in the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after buying an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after buying an additional 16 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Affiliated Managers Group by 78.5% in the 2nd quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock worth $163,000 after buying an additional 431 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Affiliated Managers Group, Inc. (AMG) traded up $0.98 during midday trading on Thursday, hitting $197.99. The company had a trading volume of 194,700 shares, compared to its average volume of 409,700. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market cap of $10,950.19, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.71. Affiliated Managers Group, Inc. has a twelve month low of $139.52 and a twelve month high of $202.09.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. 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 previous year, the company posted $3.02 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 7.5% compared to the same quarter last year. sell-side analysts expect 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. Stockholders of record on Thursday, November 9th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Affiliated Managers Group’s dividend payout ratio is 8.66%.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 69,800 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $185.48, for a total value of $12,946,504.00. Following the transaction, the chief executive officer now owns 194,943 shares in the company, valued at $36,158,027.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight D. Churchill sold 2,080 shares of the business’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 completion of the transaction, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The disclosure for this sale can be found here. Insiders have sold 79,585 shares of company stock worth $14,757,312 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on AMG. Jefferies Group reissued a “buy” rating and issued a $226.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Barrington Research restated 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, Credit Suisse Group lifted their target price on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $207.25.
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About Affiliated Managers Group
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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