Duality Advisers LP Makes New $1.41 Million Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Duality Advisers LP bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, Holdings Channel reports. The fund bought 18,968 shares of the asset manager’s stock, valued at approximately $1,414,000.

Several other large investors have also bought and sold shares of AMG. Asset Management One Co. Ltd. purchased a new stake in shares of Affiliated Managers Group in the 1st quarter worth approximately $30,000. C M Bidwell & Associates Ltd. bought a new stake in Affiliated Managers Group during the 1st quarter valued at $32,000. Truvestments Capital LLC purchased a new position in shares of Affiliated Managers Group in the 1st quarter valued at $42,000. Maverick Capital Ltd. bought a new position in shares of Affiliated Managers Group in the 1st quarter worth $43,000. Finally, CWM Advisors LLC bought a new position in shares of Affiliated Managers Group in the 1st quarter worth $44,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Several equities analysts have issued reports on the company. Deutsche Bank cut their target price on Affiliated Managers Group from $85.00 to $81.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. Credit Suisse Group reduced their price objective on shares of Affiliated Managers Group from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Monday, April 6th. ValuEngine raised shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Finally, Bank of America increased their price objective on Affiliated Managers Group from $70.00 to $71.00 and gave the company an “underperform” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $74.50.

In other Affiliated Managers Group news, CEO Jay C. Horgen purchased 10,000 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $59.26 per share, with a total value of $592,600.00. Following the transaction, the chief executive officer now owns 137,667 shares of the company’s stock, valued at approximately $8,158,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight D. Churchill acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $71.83 per share, with a total value of $71,830.00. Following the completion of the purchase, the director now owns 10,069 shares in the company, valued at approximately $723,256.27. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by insiders.

NYSE:AMG opened at $68.79 on Friday. Affiliated Managers Group, Inc. has a twelve month low of $44.37 and a twelve month high of $89.98. The company has a market cap of $3.25 billion, a PE ratio of 27.63, a P/E/G ratio of 0.48 and a beta of 1.56. The company’s 50 day moving average is $72.54 and its two-hundred day moving average is $70.83.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 27th. The asset manager reported $2.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.03. The business had revenue of $471.10 million during the quarter, compared to the consensus estimate of $451.28 million. Affiliated Managers Group had a net margin of 5.95% and a return on equity of 18.94%. The business’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.33 earnings per share. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 11.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. Affiliated Managers Group’s dividend payout ratio is currently 0.28%.

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.

See Also: Return on Equity (ROE)

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

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