Affiliated Managers Group, Inc. (NYSE:AMG) Director Samuel T. Byrne bought 6,589 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $88.77 per share, for a total transaction of $584,905.53. Following the completion of the purchase, the director now owns 19,082 shares of the company’s stock, valued at $1,693,909.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE AMG opened at $86.81 on Thursday. Affiliated Managers Group, Inc. has a 52 week low of $73.90 and a 52 week high of $147.94. The firm’s fifty day moving average is $79.70 and its 200 day moving average is $93.52. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.65 and a beta of 1.64.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, July 29th. The asset manager reported $3.33 EPS for the quarter, topping the consensus estimate of $3.19 by $0.14. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The company had revenue of $591.90 million for the quarter, compared to the consensus estimate of $540.89 million. During the same period in the previous year, the firm earned $3.61 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 13.54 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, August 7th. Affiliated Managers Group’s payout ratio is 8.83%.
Several brokerages recently commented on AMG. Bank of America downgraded shares of Affiliated Managers Group from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $97.00 to $85.00 in a research note on Tuesday, July 30th. Barrington Research decreased their target price on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Citigroup decreased their target price on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $109.84.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ossiam purchased a new position in Affiliated Managers Group during the 2nd quarter valued at $48,000. Rampart Investment Management Company LLC increased its position in Affiliated Managers Group by 39.6% during the 2nd quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 189 shares during the period. Truvestments Capital LLC purchased a new position in Affiliated Managers Group during the 2nd quarter valued at $74,000. CSat Investment Advisory L.P. increased its position in Affiliated Managers Group by 64.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 332 shares during the period. Finally, ETF Managers Group LLC purchased a new position in Affiliated Managers Group during the 2nd quarter valued at $151,000. 94.50% of the stock is currently owned by institutional investors.
Affiliated Managers Group Company Profile
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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