Affiliated Managers Group, Inc. (NYSE:AMG) Position Boosted by Korea Investment CORP
Korea Investment CORP raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,350 shares of the asset manager’s stock after buying an additional 500 shares during the period. Korea Investment CORP’s holdings in Affiliated Managers Group were worth $4,868,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in Affiliated Managers Group by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 3,500 shares of the asset manager’s stock valued at $574,000 after buying an additional 100 shares in the last quarter. Oliver Luxxe Assets LLC boosted its stake in Affiliated Managers Group by 8.7% in the first quarter. Oliver Luxxe Assets LLC now owns 7,204 shares of the asset manager’s stock valued at $1,181,000 after buying an additional 576 shares in the last quarter. Cullinan Associates Inc. acquired a new stake in Affiliated Managers Group during the first quarter valued at approximately $1,139,000. Tompkins Financial Corp boosted its stake in Affiliated Managers Group by 750.0% in the first quarter. Tompkins Financial Corp now owns 2,040 shares of the asset manager’s stock valued at $331,000 after buying an additional 1,800 shares in the last quarter. Finally, American National Bank boosted its stake in Affiliated Managers Group by 823.1% in the first quarter. American National Bank now owns 15,130 shares of the asset manager’s stock valued at $2,481,000 after buying an additional 13,491 shares in the last quarter. 94.86% of the stock is owned by institutional investors and hedge funds.
Affiliated Managers Group, Inc. (AMG) opened at 175.23 on Friday. The stock has a market capitalization of $9.81 billion, a P/E ratio of 19.41 and a beta of 1.65. The company has a 50-day moving average price of $174.85 and a 200 day moving average price of $164.17. Affiliated Managers Group, Inc. has a 1-year low of $130.48 and a 1-year high of $187.08.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The company had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. During the same quarter in the prior year, the firm earned $3.07 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Affiliated Managers Group, Inc. will post $14.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.87%.
Several analysts have recently commented on the company. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Credit Suisse Group raised their price target on Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Finally, Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Tuesday, July 4th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $195.50.
In other news, CEO Sean M. Healey sold 56,928 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the completion of the sale, the chief executive officer now owns 206,689 shares in the company, valued at approximately $33,291,397.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight D. Churchill sold 3,277 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. Insiders have sold a total of 69,107 shares of company stock valued at $11,065,554 in the last quarter. Insiders own 1.40% of the company’s stock.
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.
Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).
Receive News & Ratings for Affiliated Managers Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.