Gateway Investment Advisers LLC grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,907 shares of the asset manager’s stock after acquiring an additional 832 shares during the quarter. Gateway Investment Advisers LLC owned 0.13% of Affiliated Managers Group worth $15,375,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of Affiliated Managers Group in the third quarter worth about $100,000. Advisor Group Inc. increased its holdings in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares in the last quarter. Gofen & Glossberg LLC IL bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth about $206,000. First Citizens Bank & Trust Co. acquired a new position in shares of Affiliated Managers Group during the fourth quarter worth about $214,000. Finally, Douglas Lane & Associates LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $200,000. Institutional investors own 95.52% of the company’s stock.
In related news, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the completion of the transaction, the director now directly owns 6,104 shares of the company’s stock, valued at $1,124,845.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick T. Ryan sold 7,705 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $185.27, for a total value of $1,427,505.35. Following the transaction, the director now directly owns 6,797 shares of the company’s stock, valued at $1,259,280.19. The disclosure for this sale can be found here. Insiders have sold 89,585 shares of company stock valued at $16,734,012 over the last three months. Insiders own 1.40% of the company’s stock.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 EPS for the quarter, beating the consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm had revenue of $585.70 million during the quarter, compared to analysts’ expectations of $586.55 million. During the same period in the prior year, the firm posted $3.02 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. research analysts anticipate that Affiliated Managers Group, Inc. will post 14.48 EPS for the current fiscal year.
Several research analysts have recently weighed in on AMG shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a research report on Monday, October 2nd. Jefferies Group reaffirmed a “buy” rating and set a $226.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Credit Suisse Group cut Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective for the company. in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $211.00.
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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