Sit Investment Associates Inc. lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,225 shares of the asset manager’s stock after selling 175 shares during the period. Sit Investment Associates Inc.’s holdings in Affiliated Managers Group were worth $3,355,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in shares of Affiliated Managers Group during the first quarter worth about $104,000. Creative Planning increased its position in shares of Affiliated Managers Group by 15.0% in the second 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. Financial Architects Inc increased its position in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Affiliated Managers Group during the first quarter worth about $163,000. Finally, Pacer Advisors Inc. increased its position in shares of Affiliated Managers Group by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,096 shares of the asset manager’s stock worth $180,000 after buying an additional 33 shares in the last quarter. Institutional investors own 94.86% of the company’s stock.
Affiliated Managers Group, Inc. (NYSE AMG) opened at 180.63 on Tuesday. The company has a market capitalization of $10.17 billion, a PE ratio of 20.01 and a beta of 1.65. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08. The company has a 50-day moving average price of $171.23 and a 200 day moving average price of $162.48.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The business had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. During the same period in the previous year, the company earned $3.07 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post $14.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 8.87%.
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A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $215.00 price target on shares of Affiliated Managers Group in a report on Thursday, August 3rd. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, August 1st. ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $193.50.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the transaction, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick T. Ryan sold 8,902 shares of Affiliated Managers Group stock in a transaction on Friday, May 19th. The stock was sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the sale, the director now owns 10,342 shares of the company’s stock, valued at $1,581,188.38. The disclosure for this sale can be found here. Insiders sold 69,107 shares of company stock worth $11,065,554 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
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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