Hi Line Capital Management LLC boosted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 44,957 shares of the asset manager’s stock after buying an additional 255 shares during the period. Affiliated Managers Group makes up approximately 1.9% of Hi Line Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Hi Line Capital Management LLC’s holdings in Affiliated Managers Group were worth $4,142,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of AMG. Ossiam acquired a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $48,000. Truvestments Capital LLC acquired a new position in Affiliated Managers Group during the 2nd quarter valued at about $74,000. Integrated Investment Consultants LLC lifted its stake in shares of Affiliated Managers Group by 28.0% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,400 shares of the asset manager’s stock worth $221,000 after acquiring an additional 525 shares during the period. FDx Advisors Inc. lifted its stake in shares of Affiliated Managers Group by 22.9% in the 2nd quarter. FDx Advisors Inc. now owns 2,466 shares of the asset manager’s stock worth $227,000 after acquiring an additional 460 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV lifted its stake in Affiliated Managers Group by 14.8% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 2,645 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 94.53% of the company’s stock.
Several research analysts have recently commented on AMG shares. Citigroup dropped their price target on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Bank of America cut shares of 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 research report on Tuesday, July 30th. Finally, Barrington Research lowered their price objective on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Affiliated Managers Group currently has a consensus rating of “Hold” and an average price target of $109.84.
In related news, Director Nathaniel Dalton sold 23,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $76.86, for a total value of $1,767,780.00. Following the transaction, the director now directly owns 208,346 shares in the company, valued at approximately $16,013,473.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jide James Zeitlin sold 54,350 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $92.22, for a total value of $5,012,157.00. The disclosure for this sale can be found here. 1.43% of the stock is owned by company insiders.
AMG opened at $89.07 on Friday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 0.64 and a beta of 1.64. Affiliated Managers Group, Inc. has a twelve month low of $73.90 and a twelve month high of $147.94. The company has a 50-day simple moving average of $79.90 and a 200 day simple moving average of $94.17.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $3.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $0.14. The company had revenue of $591.90 million during the quarter, compared to the consensus estimate of $540.89 million. Affiliated Managers Group had a positive return on equity of 17.68% and a negative net margin of 5.19%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 13.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Wednesday, August 7th. Affiliated Managers Group’s payout ratio is 8.83%.
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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