LS Investment Advisors LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,528 shares of the asset manager’s stock after buying an additional 151 shares during the period. LS Investment Advisors LLC’s holdings in Affiliated Managers Group were worth $419,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in AMG. BlackRock Inc. boosted its stake in shares of Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock valued at $561,556,000 after buying an additional 3,320,906 shares in the last quarter. RidgeWorth Capital Management LLC purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at $40,387,000. Vanguard Group Inc. boosted its stake in shares of Affiliated Managers Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 5,303,083 shares of the asset manager’s stock worth $869,387,000 after buying an additional 243,426 shares during the period. State Street Corp boosted its stake in shares of Affiliated Managers Group by 8.5% in the first quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock worth $423,466,000 after buying an additional 202,802 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Affiliated Managers Group by 39.9% in the first quarter. Clearbridge Investments LLC now owns 625,006 shares of the asset manager’s stock worth $102,463,000 after buying an additional 178,128 shares during the period. 95.29% of the stock is currently owned by institutional investors.
Affiliated Managers Group, Inc. (AMG) traded down 0.36% during midday trading on Friday, reaching $172.37. The company’s stock had a trading volume of 92,125 shares. Affiliated Managers Group, Inc. has a 52 week low of $130.48 and a 52 week high of $187.08. The stock has a market capitalization of $9.65 billion, a PE ratio of 19.09 and a beta of 1.65. The firm’s 50-day moving average price is $176.46 and its 200-day moving average price is $165.10.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.07 EPS. On average, analysts anticipate that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Affiliated Managers Group’s payout ratio is 8.87%.
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AMG has been the subject of a number of analyst reports. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, May 2nd. ValuEngine lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Credit Suisse Group reissued a “buy” rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $195.50.
In related news, Director Dwight D. Churchill sold 3,277 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the sale, the director now directly owns 7,301 shares in the company, valued at approximately $1,192,253.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean M. Healey sold 56,928 shares of the 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 completion of the sale, the chief executive officer now owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Affiliated Managers Group Company Profile
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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