BNP Paribas Arbitrage SA trimmed its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 90.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,805 shares of the asset manager’s stock after selling 171,405 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Affiliated Managers Group were worth $1,907,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC raised its holdings in shares of Affiliated Managers Group by 1,295.5% during the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. JOYN Advisors Inc. raised its holdings in shares of Affiliated Managers Group by 649.1% during the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after acquiring an additional 344 shares in the last quarter. Legacy Bridge LLC purchased a new stake in shares of Affiliated Managers Group during the 4th quarter worth approximately $44,000. CSat Investment Advisory L.P. raised its holdings in Affiliated Managers Group by 173.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock valued at $50,000 after buying an additional 328 shares during the period. Finally, Covington Capital Management purchased a new stake in Affiliated Managers Group during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 94.71% of the company’s stock.
In other Affiliated Managers Group news, insider Jay C. Horgen bought 11,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 10th. The shares were acquired at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the completion of the purchase, the insider now directly owns 115,527 shares in the company, valued at approximately $10,765,961.13. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tracy P. Palandjian sold 1,694 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $110.64, for a total value of $187,424.16. Following the completion of the sale, the director now owns 4,291 shares in the company, valued at approximately $474,756.24. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.
NYSE:AMG traded up $0.38 during midday trading on Wednesday, hitting $87.22. 469,955 shares of the company traded hands, compared to its average volume of 707,071. Affiliated Managers Group, Inc. has a 12-month low of $86.84 and a 12-month high of $168.19. The firm has a market capitalization of $4.45 billion, a PE ratio of 6.02, a PEG ratio of 0.62 and a beta of 1.49.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.27 by ($0.01). Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. The business had revenue of $543.10 million during the quarter, compared to analysts’ expectations of $541.42 million. During the same quarter in the previous year, the business earned $3.92 EPS. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 13.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. Affiliated Managers Group’s payout ratio is 8.83%.
Several analysts recently weighed in on the company. Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Barrington Research restated a “buy” rating and set a $135.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 30th. ValuEngine upgraded Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Deutsche Bank decreased their price target on Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Finally, Jefferies Financial Group lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price target on the stock. in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $130.86.
About Affiliated Managers Group
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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