Hartford Investment Management Co. decreased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,519 shares of the asset manager’s stock after selling 249 shares during the period. Hartford Investment Management Co.’s holdings in Affiliated Managers Group were worth $591,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in AMG. Bank of Nova Scotia raised its stake in Affiliated Managers Group by 332.7% in the 4th quarter. Bank of Nova Scotia now owns 40,701 shares of the asset manager’s stock worth $3,965,000 after purchasing an additional 31,295 shares in the last quarter. Norges Bank acquired a new stake in Affiliated Managers Group in the 4th quarter worth about $45,931,000. Dimensional Fund Advisors LP raised its stake in Affiliated Managers Group by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after purchasing an additional 46,000 shares in the last quarter. Prudential Financial Inc. raised its stake in Affiliated Managers Group by 38.0% in the 4th quarter. Prudential Financial Inc. now owns 148,218 shares of the asset manager’s stock worth $14,442,000 after purchasing an additional 40,803 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Affiliated Managers Group by 6.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 20,060 shares of the asset manager’s stock worth $2,149,000 after purchasing an additional 1,200 shares in the last quarter. 94.71% of the stock is owned by institutional investors and hedge funds.
In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the sale, the director now directly owns 4,291 shares of the company’s stock, valued at approximately $474,756.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 cost of $93.19 per share, for a total transaction of $1,025,090.00. Following the completion of the acquisition, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The disclosure for this purchase can be found here. Insiders own 1.43% of the company’s stock.
Shares of NYSE:AMG traded up $0.38 during midday trading on Wednesday, hitting $87.22. The stock had a trading volume of 469,955 shares, compared to its average volume of 707,071. The stock 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, Inc. has a fifty-two week low of $86.84 and a fifty-two week high of $168.19.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.27 by ($0.01). The company had revenue of $543.10 million for the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $3.92 earnings per share. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 13.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.83%.
Several equities analysts have recently commented on AMG shares. ValuEngine cut shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Jefferies Financial Group cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price for the company. in a research report on Tuesday, January 29th. Deutsche Bank dropped their target price on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Barrington Research restated a “buy” rating and issued a $135.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $130.86.
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Affiliated Managers Group Company 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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