South Dakota Investment Council boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.6% during the 2nd quarter, Holdings Channel reports. The fund owned 23,240 shares of the asset manager’s stock after acquiring an additional 1,640 shares during the quarter. South Dakota Investment Council’s holdings in Affiliated Managers Group were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Crossmark Global Holdings Inc. grew its position in Affiliated Managers Group by 1.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,867 shares of the asset manager’s stock valued at $736,000 after buying an additional 114 shares in the last quarter. Alta Capital Management LLC boosted its holdings in shares of Affiliated Managers Group by 4.7% in the second quarter. Alta Capital Management LLC now owns 2,685 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 120 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Affiliated Managers Group by 0.6% in the first quarter. Clearbridge Investments LLC now owns 20,137 shares of the asset manager’s stock valued at $2,157,000 after acquiring an additional 124 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Affiliated Managers Group by 3.3% during the second quarter. LS Investment Advisors LLC now owns 4,099 shares of the asset manager’s stock valued at $378,000 after acquiring an additional 131 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Affiliated Managers Group by 4.5% during the second quarter. World Asset Management Inc now owns 3,549 shares of the asset manager’s stock valued at $327,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.
Affiliated Managers Group stock traded up $1.78 during midday trading on Wednesday, hitting $88.16. The company’s stock had a trading volume of 9,655 shares, compared to its average volume of 440,737. The stock’s 50-day moving average price is $79.92 and its 200-day moving average price is $94.27. Affiliated Managers Group, Inc. has a 12 month low of $73.90 and a 12 month high of $147.94. The company has a market capitalization of $4.21 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.61 and a beta of 1.64.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 29th. The asset manager reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $0.14. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The company had revenue of $591.90 million during the quarter, compared to analyst estimates of $540.89 million. During the same quarter last year, the firm posted $3.61 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 13.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.45%. Affiliated Managers Group’s payout ratio is currently 8.83%.
In other news, Director Jide James Zeitlin sold 54,350 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $92.22, for a total transaction of $5,012,157.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nathaniel Dalton sold 23,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $76.86, for a total value of $1,767,780.00. Following the sale, the director now directly owns 208,346 shares of the company’s stock, valued at $16,013,473.56. The disclosure for this sale can be found here. 1.43% of the stock is owned by insiders.
AMG has been the topic of several recent analyst reports. Bank of America cut Affiliated Managers Group from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $97.00 to $85.00 in a report on Tuesday, July 30th. Barrington Research decreased their price target on Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, Citigroup lowered their price target on Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.84.
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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