NN Investment Partners Holdings N.V. trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 41.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,000 shares of the asset manager’s stock after selling 700 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Affiliated Managers Group were worth $75,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in AMG. State of Tennessee Treasury Department bought a new position in Affiliated Managers Group in the 1st quarter worth about $1,957,000. Nuveen Asset Management LLC increased its stake in Affiliated Managers Group by 5.9% in the 1st quarter. Nuveen Asset Management LLC now owns 106,463 shares of the asset manager’s stock worth $6,296,000 after acquiring an additional 5,948 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Affiliated Managers Group by 71.2% in the 1st quarter. Treasurer of the State of North Carolina now owns 20,229 shares of the asset manager’s stock worth $1,196,000 after acquiring an additional 8,410 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Affiliated Managers Group by 91.9% during the 1st quarter. Two Sigma Advisers LP now owns 80,800 shares of the asset manager’s stock valued at $4,779,000 after purchasing an additional 38,700 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Affiliated Managers Group during the 1st quarter valued at about $30,000. Institutional investors own 97.93% of the company’s stock.
AMG opened at $68.79 on Friday. The company’s 50 day simple moving average is $72.54 and its two-hundred day simple moving average is $70.83. Affiliated Managers Group, Inc. has a 1-year low of $44.37 and a 1-year high of $89.98. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of 0.48 and a beta of 1.56.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 27th. The asset manager reported $2.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.03. Affiliated Managers Group had a net margin of 5.95% and a return on equity of 18.94%. The business had revenue of $471.10 million for the quarter, compared to analyst estimates of $451.28 million. During the same period last year, the company posted $3.33 EPS. The business’s revenue was down 20.4% on a year-over-year basis. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 11.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.06%. Affiliated Managers Group’s dividend payout ratio is currently 0.28%.
In related news, CEO Jay C. Horgen bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $59.26 per share, for a total transaction of $592,600.00. Following the acquisition, the chief executive officer now owns 137,667 shares of the company’s stock, valued at $8,158,146.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight D. Churchill purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $71.83 per share, with a total value of $71,830.00. Following the transaction, the director now directly owns 10,069 shares in the company, valued at $723,256.27. The disclosure for this purchase can be found here. 1.43% of the stock is owned by company insiders.
Several research firms have weighed in on AMG. ValuEngine upgraded Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Deutsche Bank reduced their target price on Affiliated Managers Group from $85.00 to $81.00 and set a “hold” rating for the company in a report on Thursday, July 9th. Bank of America raised their price target on Affiliated Managers Group from $70.00 to $71.00 and gave the stock an “underperform” rating in a research note on Friday, July 10th. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Monday, April 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $74.50.
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.
See Also: Hold Rating
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