Putnam FL Investment Management Co. trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,714 shares of the asset manager’s stock after selling 1,500 shares during the period. Putnam FL Investment Management Co.’s holdings in Affiliated Managers Group were worth $968,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMG. Amundi Pioneer Asset Management Inc. lifted its position in shares of Affiliated Managers Group by 156.0% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 714,516 shares of the asset manager’s stock valued at $135,637,000 after acquiring an additional 435,440 shares during the period. Janus Henderson Group PLC lifted its position in shares of Affiliated Managers Group by 333.2% during the 2nd quarter. Janus Henderson Group PLC now owns 518,866 shares of the asset manager’s stock valued at $86,059,000 after acquiring an additional 399,083 shares during the period. Jane Street Group LLC lifted its position in shares of Affiliated Managers Group by 101.1% during the 3rd quarter. Jane Street Group LLC now owns 3,939 shares of the asset manager’s stock valued at $748,000 after acquiring an additional 366,268 shares during the period. State Street Corp lifted its position in shares of Affiliated Managers Group by 6.7% during the 2nd quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock valued at $457,334,000 after acquiring an additional 174,278 shares during the period. Finally, Calamos Advisors LLC lifted its position in shares of Affiliated Managers Group by 102.0% during the 3rd quarter. Calamos Advisors LLC now owns 226,214 shares of the asset manager’s stock valued at $42,942,000 after acquiring an additional 114,217 shares during the period. Institutional investors own 95.66% of the company’s stock.

AMG has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $229.00 price target on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and set a $226.00 price target on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research note on Tuesday, January 2nd. Credit Suisse Group cut shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research note on Wednesday, January 3rd. Finally, Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective for the company. in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $224.13.

Affiliated Managers Group, Inc. (NYSE:AMG) opened at $179.11 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.54 and a current ratio of 0.59. Affiliated Managers Group, Inc. has a 12 month low of $148.81 and a 12 month high of $216.99. The firm has a market cap of $9,960.00, a P/E ratio of 14.84, a PEG ratio of 0.67 and a beta of 1.57.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business had revenue of $604.10 million during the quarter, compared to analysts’ expectations of $608.51 million. During the same period last year, the company posted $3.80 EPS. The company’s revenue was up 9.8% on a year-over-year basis. research analysts predict that Affiliated Managers Group, Inc. will post 17.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is 6.63%.

Affiliated Managers Group announced that its board has approved a stock buyback program on Monday, January 29th that permits the company to repurchase 3,400,000 shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of Affiliated Managers Group stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total value of $1,976,700.00. Following the completion of the sale, the insider now directly owns 37,682 shares of the company’s stock, valued at approximately $7,448,600.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean M. Healey sold 69,800 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the completion of the sale, the chief executive officer now directly owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

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About Affiliated Managers Group

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.

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

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