Rhumbline Advisers grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,932 shares of the asset manager’s stock after acquiring an additional 1,539 shares during the quarter. Rhumbline Advisers owned about 0.19% of Affiliated Managers Group worth $21,537,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of AMG. Advisor Group Inc. increased its stake in shares of Affiliated Managers Group by 38.5% in the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after acquiring an additional 278 shares during the last quarter. Waldron LP acquired a new stake in shares of Affiliated Managers Group in the 4th quarter worth $201,000. IFM Investors Pty Ltd acquired a new stake in shares of Affiliated Managers Group in the 4th quarter worth $201,000. Conning Inc. acquired a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $203,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Affiliated Managers Group in the 4th quarter worth $204,000. 95.07% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research report on Tuesday, January 2nd. Barrington Research raised their price objective on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Credit Suisse Group reissued a “hold” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research report on Friday, January 12th. Goldman Sachs Group downgraded 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. Finally, Citigroup raised Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus price target of $228.25.
Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at $190.01 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $10,384.37, a PE ratio of 12.77, a P/E/G ratio of 0.67 and a beta of 1.57. Affiliated Managers Group, Inc. has a 52-week low of $148.81 and a 52-week high of $216.99.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.55 by $0.13. The company had revenue of $604.10 million during the quarter, compared to the consensus estimate of $608.51 million. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. Affiliated Managers Group’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.80 EPS. analysts predict that Affiliated Managers Group, Inc. will post 17.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were given a $0.30 dividend. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Wednesday, February 7th. Affiliated Managers Group’s payout ratio is currently 9.94%.
Affiliated Managers Group declared that its board has authorized a stock repurchase plan on Monday, January 29th that permits the company to repurchase 3,400,000 shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the completion of the transaction, the insider now directly owns 37,682 shares of the company’s stock, valued at approximately $7,448,600.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.
Affiliated Managers Group 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.
Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).
Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.