Stoneridge Investment Partners LLC Sells 2,692 Shares of Affiliated Managers Group, Inc. (AMG)
Stoneridge Investment Partners LLC decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,472 shares of the asset manager’s stock after selling 2,692 shares during the period. Stoneridge Investment Partners LLC owned 0.07% of Affiliated Managers Group worth $6,923,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of AMG. Tributary Capital Management LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at about $100,000. Creative Planning increased its stake in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock valued at $117,000 after buying an additional 92 shares during the period. Advisor Group Inc. increased its stake 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 valued at $120,000 after buying an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake 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 valued at $125,000 after buying an additional 16 shares during the period. Finally, Financial Architects Inc grew its stake in Affiliated Managers Group by 2.1% during the second quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after purchasing an additional 17 shares during the period. 96.41% of the stock is owned by institutional investors.
Shares of Affiliated Managers Group, Inc. (NYSE AMG) traded up $0.71 during trading on Tuesday, reaching $186.06. The company’s stock had a trading volume of 225,899 shares, compared to its average volume of 291,639. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. Affiliated Managers Group, Inc. has a 12-month low of $130.48 and a 12-month high of $198.40. The firm has a market capitalization of $10,350.00, a PE ratio of 13.48, a PEG ratio of 0.87 and a beta of 1.70.
Affiliated Managers Group (NYSE:AMG) last posted its 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. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The company had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter last year, the company earned $3.02 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. analysts expect that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Affiliated Managers Group’s dividend payout ratio is presently 8.66%.
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AMG has been the subject of several recent analyst reports. BidaskClub raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 target price for the company in a research note on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $226.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Finally, Credit Suisse Group raised their target price on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $207.25.
In other news, Director Dwight D. Churchill sold 2,080 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total value of $383,302.40. Following the transaction, the director now owns 6,104 shares in the company, valued at $1,124,845.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
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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