Affiliated Managers Group (AMG) Shares Sold by Boston Partners
Boston Partners trimmed its position in Affiliated Managers Group (NYSE:AMG) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,955 shares of the asset manager’s stock after selling 1,566 shares during the period. Boston Partners’ holdings in Affiliated Managers Group were worth $5,489,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Telemus Capital LLC lifted its position in Affiliated Managers Group by 7.0% in the fourth quarter. Telemus Capital LLC now owns 3,860 shares of the asset manager’s stock worth $793,000 after purchasing an additional 253 shares during the period. Stephens Inc. AR lifted its position in Affiliated Managers Group by 12.3% in the fourth quarter. Stephens Inc. AR now owns 2,568 shares of the asset manager’s stock worth $527,000 after purchasing an additional 282 shares during the period. Fred Alger Management Inc. lifted its position in Affiliated Managers Group by 3.1% in the fourth quarter. Fred Alger Management Inc. now owns 9,398 shares of the asset manager’s stock worth $1,929,000 after purchasing an additional 286 shares during the period. Norinchukin Bank The lifted its position in Affiliated Managers Group by 11.9% in the fourth quarter. Norinchukin Bank The now owns 2,787 shares of the asset manager’s stock worth $572,000 after purchasing an additional 296 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Affiliated Managers Group by 2.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,232 shares of the asset manager’s stock worth $2,305,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barrington Research upped their target price on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Deutsche Bank cut their target price on Affiliated Managers Group from $215.00 to $213.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Finally, ValuEngine downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $215.00.
NYSE AMG opened at $167.33 on Thursday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.74 and a beta of 1.53. Affiliated Managers Group has a 1 year low of $166.50 and a 1 year high of $167.43. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, April 30th. The asset manager reported $3.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.89 by $0.03. The company had revenue of $612.40 million for the quarter, compared to analysts’ expectations of $586.44 million. Affiliated Managers Group had a return on equity of 19.27% and a net margin of 30.34%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. analysts anticipate that Affiliated Managers Group will post 16.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.72%. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.
Affiliated Managers Group declared that its board has initiated a stock buyback plan on Monday, January 29th that authorizes the company to repurchase 3,400,000 outstanding shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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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