Huntington National Bank Purchases 305 Shares of Affiliated Managers Group, Inc. $AMG

Huntington National Bank increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 129.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541 shares of the asset manager’s stock after purchasing an additional 305 shares during the quarter. Huntington National Bank’s holdings in Affiliated Managers Group were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Amplius Wealth Advisors LLC lifted its holdings in Affiliated Managers Group by 14.0% in the second quarter. Amplius Wealth Advisors LLC now owns 19,596 shares of the asset manager’s stock worth $3,856,000 after buying an additional 2,401 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $290,000. Assetmark Inc. boosted its position in shares of Affiliated Managers Group by 2.7% during the second quarter. Assetmark Inc. now owns 29,345 shares of the asset manager’s stock valued at $5,774,000 after purchasing an additional 774 shares in the last quarter. Guinness Asset Management LTD grew its stake in Affiliated Managers Group by 2.4% in the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock worth $629,000 after purchasing an additional 74 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Affiliated Managers Group in the second quarter worth $916,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.0%

NYSE AMG opened at $258.87 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $261.32. The company has a market capitalization of $7.36 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. The stock’s 50-day moving average price is $239.11 and its 200-day moving average price is $210.22.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same period in the prior year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Jefferies Financial Group reissued a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Bank of America raised their price objective on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.57.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.