Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 22.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,385 shares of the asset manager’s stock after selling 1,301 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Affiliated Managers Group were worth $600,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. EdgePoint Investment Group Inc. grew its holdings in Affiliated Managers Group by 28.7% during the second quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock worth $432,145,000 after acquiring an additional 648,919 shares during the period. Renaissance Technologies LLC acquired a new stake in Affiliated Managers Group during the second quarter worth about $61,787,000. Canada Pension Plan Investment Board grew its holdings in Affiliated Managers Group by 1,387.3% during the second quarter. Canada Pension Plan Investment Board now owns 360,321 shares of the asset manager’s stock worth $53,569,000 after acquiring an additional 336,094 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Affiliated Managers Group by 91.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock worth $86,844,000 after acquiring an additional 278,337 shares during the period. Finally, American Century Companies Inc. grew its holdings in Affiliated Managers Group by 86.3% during the second quarter. American Century Companies Inc. now owns 547,002 shares of the asset manager’s stock worth $81,323,000 after acquiring an additional 253,376 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.
Shares of AMG opened at $103.04 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. Affiliated Managers Group, Inc. has a 12 month low of $101.34 and a 12 month high of $216.99. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.58 and a beta of 1.53.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, beating the consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The company had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same period last year, the company earned $3.41 earnings per share. Affiliated Managers Group’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts anticipate that Affiliated Managers Group, Inc. will post 14.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, November 7th. Affiliated Managers Group’s payout ratio is currently 8.22%.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,034 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $110.53, for a total value of $224,818.02. Following the sale, the director now directly owns 6,522 shares of the company’s stock, valued at $720,876.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Hugh Cutler acquired 1,564 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was acquired at an average cost of $115.48 per share, for a total transaction of $180,610.72. Following the completion of the acquisition, the executive vice president now owns 7,087 shares of the company’s stock, valued at approximately $818,406.76. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by company insiders.
Several research firms recently commented on AMG. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Deutsche Bank dropped their target price on Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Citigroup dropped their target price on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Barrington Research dropped their target price on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $130.00 target price (down from $155.00) on shares of Affiliated Managers Group in a report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Affiliated Managers Group presently has a consensus rating of “Hold” and an average target price of $183.11.
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Affiliated Managers Group Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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