Polar Capital LLP grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 205,490 shares of the asset manager’s stock after purchasing an additional 1,398 shares during the quarter. Polar Capital LLP owned approximately 0.39% of Affiliated Managers Group worth $20,023,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AMG. Proficio Capital Partners LLC raised its position in shares of Affiliated Managers Group by 1,295.5% in the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 285 shares during the period. JOYN Advisors Inc. raised its position in shares of Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 344 shares during the period. Legacy Bridge LLC acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $44,000. Bremer Trust National Association acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $69,000. Finally, Tributary Capital Management LLC acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $73,000. 95.07% of the stock is currently owned by institutional investors.
Shares of AMG stock opened at $106.76 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 0.71. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 0.66 and a beta of 1.49. Affiliated Managers Group, Inc. has a 52 week low of $88.46 and a 52 week high of $194.90.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, February 4th. The asset manager reported $3.53 EPS for the quarter, topping the consensus estimate of $3.51 by $0.02. The firm had revenue of $564.40 million for the quarter, compared to the consensus estimate of $568.99 million. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the company posted $4.68 EPS. On average, analysts forecast that Affiliated Managers Group, Inc. will post 14.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 14th were issued a dividend of $0.32 per share. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.
A number of brokerages recently weighed in on AMG. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Deutsche Bank cut their price target on shares of Affiliated Managers Group from $164.00 to $158.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Jefferies Financial Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price target on the stock. in a research report on Tuesday, January 29th. Citigroup downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Finally, Barrington Research reiterated a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, January 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $132.12.
In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the firm’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 in the company, valued at approximately $474,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
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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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