Putnam FL Investment Management Co. purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,214 shares of the asset manager’s stock, valued at approximately $1,180,000.

Other hedge funds also recently modified their holdings of the company. Tributary Capital Management LLC acquired a new position in Affiliated Managers Group during the third quarter worth approximately $100,000. Creative Planning increased its position in Affiliated Managers Group by 15.0% during the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after purchasing an additional 92 shares during the last quarter. Advisor Group Inc. increased its position in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Affiliated Managers Group by 2.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares in the last quarter. Finally, Financial Architects Inc increased its position in shares of Affiliated Managers Group by 2.1% in the second quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after acquiring an additional 17 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on AMG. Barrington Research reissued an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research report on Friday, August 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, BidaskClub lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $207.25.

In related news, Director Patrick T. Ryan sold 7,705 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $185.27, for a total transaction of $1,427,505.35. Following the completion of the sale, the director now directly owns 6,797 shares of the company’s stock, valued at approximately $1,259,280.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight D. Churchill sold 2,080 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total transaction of $383,302.40. Following the sale, the director now directly owns 6,104 shares of the company’s stock, valued at $1,124,845.12. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

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Affiliated Managers Group, Inc. (NYSE:AMG) traded up $0.72 on Friday, reaching $185.49. 243,700 shares of the company were exchanged, compared to its average volume of 417,764. The firm has a market cap of $10,269.87, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.87 and a beta of 1.70. Affiliated Managers Group, Inc. has a 1-year low of $139.52 and a 1-year high of $198.40. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.05. The business had revenue of $585.70 million during the quarter, compared to analyst estimates of $586.55 million. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $3.02 EPS. analysts forecast that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, November 8th. Affiliated Managers Group’s payout ratio is 8.66%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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