Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 24.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,066 shares of the asset manager’s stock after acquiring an additional 1,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Affiliated Managers Group were worth $1,721,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Douglas Lane & Associates LLC acquired a new stake in Affiliated Managers Group in the third quarter valued at $200,000. Schroder Investment Management Group grew its holdings in Affiliated Managers Group by 8.3% in the second quarter. Schroder Investment Management Group now owns 383,937 shares of the asset manager’s stock valued at $63,353,000 after purchasing an additional 29,297 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Affiliated Managers Group in the second quarter valued at $712,000. Rhumbline Advisers grew its holdings in Affiliated Managers Group by 2.1% in the third quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock valued at $19,627,000 after purchasing an additional 2,148 shares during the last quarter. Finally, Sentry Investment Management LLC grew its holdings in Affiliated Managers Group by 139.5% in the second quarter. Sentry Investment Management LLC now owns 4,323 shares of the asset manager’s stock valued at $717,000 after purchasing an additional 2,518 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the transaction, the chief executive officer now directly owns 194,943 shares in the company, valued at $36,158,027.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick T. Ryan sold 7,705 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $185.27, for a total value of $1,427,505.35. Following the transaction, the director now owns 6,797 shares in the company, valued at $1,259,280.19. The disclosure for this sale can be found here. Insiders have sold 79,585 shares of company stock worth $14,757,312 over the last quarter. 1.40% of the stock is currently owned by company insiders.
A number of analysts recently commented on the company. Credit Suisse Group increased their price objective on Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Jefferies Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research note on Friday, August 18th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a research note on Monday, October 2nd. Barrington Research reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Affiliated Managers Group currently has an average rating of “Buy” and a consensus target price of $207.25.
Affiliated Managers Group, Inc. (AMG) traded up $0.98 on Thursday, hitting $197.99. The company had a trading volume of 194,700 shares, compared to its average volume of 409,700. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $10,950.19, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.93 and a beta of 1.71. Affiliated Managers Group, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $202.09.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.36 by $0.05. The business had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.02 earnings per share. research analysts forecast that Affiliated Managers Group, Inc. will post 14.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 0.40%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.66%.
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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