Sirios Capital Management L P cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 30.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,375 shares of the asset manager’s stock after selling 177,094 shares during the period. Affiliated Managers Group accounts for approximately 3.3% of Sirios Capital Management L P’s investment portfolio, making the stock its 10th largest position. Sirios Capital Management L P owned 0.71% of Affiliated Managers Group worth $66,737,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Affiliated Managers Group by 22.0% in the first quarter. Russell Investments Group Ltd. now owns 330,204 shares of the asset manager’s stock valued at $54,128,000 after buying an additional 59,488 shares in the last quarter. Tealwood Asset Management Inc. raised its stake in Affiliated Managers Group by 1.3% in the first quarter. Tealwood Asset Management Inc. now owns 9,689 shares of the asset manager’s stock valued at $1,588,000 after buying an additional 128 shares in the last quarter. Strs Ohio raised its stake in Affiliated Managers Group by 168.7% in the first quarter. Strs Ohio now owns 2,182 shares of the asset manager’s stock valued at $357,000 after buying an additional 1,370 shares in the last quarter. ProShare Advisors LLC raised its stake in Affiliated Managers Group by 6.9% in the first quarter. ProShare Advisors LLC now owns 13,054 shares of the asset manager’s stock valued at $2,140,000 after buying an additional 840 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Affiliated Managers Group by 5.6% in the first quarter. Profund Advisors LLC now owns 1,920 shares of the asset manager’s stock valued at $315,000 after buying an additional 102 shares in the last quarter. Institutional investors own 95.29% of the company’s stock.
Shares of Affiliated Managers Group, Inc. (NYSE AMG) traded up 0.82% during mid-day trading on Friday, hitting $176.17. 20,235 shares of the stock traded hands. Affiliated Managers Group, Inc. has a one year low of $130.48 and a one year high of $187.08. The company’s 50 day moving average is $177.11 and its 200 day moving average is $165.78. The firm has a market capitalization of $9.86 billion, a P/E ratio of 19.52 and a beta of 1.65.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The firm had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $573.73 million. During the same period in the prior year, the business posted $3.07 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that Affiliated Managers Group, Inc. will post $14.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 8.87%.
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Several analysts have issued reports on the stock. Jefferies Group LLC restated a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, August 1st. BidaskClub lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Thursday, August 3rd. Credit Suisse Group lifted their target price on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Affiliated Managers Group presently has an average rating of “Buy” and a consensus price target of $195.50.
In other news, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the sale, the director now directly owns 7,301 shares in the company, valued at $1,192,253.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sean M. Healey sold 56,928 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 206,689 shares in the company, 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.
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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