Meadow Creek Investment Management LLC reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 67,788 shares of the asset manager’s stock after selling 5,488 shares during the period. Meadow Creek Investment Management LLC’s holdings in Affiliated Managers Group were worth $13,914,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMG. IFM Investors Pty Ltd purchased a new position in Affiliated Managers Group during the fourth quarter worth about $201,000. Waldron LP purchased a new position in Affiliated Managers Group during the fourth quarter worth about $201,000. Canandaigua National Bank & Trust Co. purchased a new position in Affiliated Managers Group during the fourth quarter worth about $204,000. Advisor Group Inc. boosted its holdings in Affiliated Managers Group by 38.5% during the third quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after purchasing an additional 278 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI purchased a new position in Affiliated Managers Group during the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 96.62% of the company’s stock.

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In other news, CFO Jay C. Horgen sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $189.59, for a total value of $5,687,700.00. Following the sale, the chief financial officer now owns 114,039 shares of the company’s stock, valued at $21,620,654.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Shares of Affiliated Managers Group, Inc. (AMG) opened at $194.95 on Wednesday. The company has a market cap of $10,612.05, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.59. Affiliated Managers Group, Inc. has a 12-month low of $148.81 and a 12-month high of $216.99.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping the consensus estimate of $4.55 by $0.13. The business had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.80 earnings per share. equities analysts forecast that Affiliated Managers Group, Inc. will post 17.55 EPS for the current year.

Affiliated Managers Group announced that its board has initiated a stock repurchase plan on Monday, January 29th that allows the company to repurchase 3,400,000 outstanding shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 annualized dividend and a dividend yield of 0.62%. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s payout ratio is 9.94%.

Several research firms recently weighed in on AMG. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank lowered their price objective on shares of Affiliated Managers Group from $215.00 to $213.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. Credit Suisse Group lowered shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research report on Wednesday, January 3rd. Citigroup lifted their price objective on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $228.00.

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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.

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

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