Affiliated Managers Group, Inc. (AMG) Stake Lowered by Victory Capital Management Inc.
Victory Capital Management Inc. cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 32.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 548,396 shares of the asset manager’s stock after selling 259,805 shares during the period. Victory Capital Management Inc.’s holdings in Affiliated Managers Group were worth $89,905,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AMG. State of Alaska Department of Revenue purchased a new stake in Affiliated Managers Group during the first quarter valued at approximately $104,000. Financial Architects Inc boosted its stake in Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock valued at $134,000 after buying an additional 801 shares during the period. First Interstate Bank boosted its stake in Affiliated Managers Group by 1,273.3% in the fourth quarter. First Interstate Bank now owns 824 shares of the asset manager’s stock valued at $120,000 after buying an additional 764 shares during the period. Pacer Advisors Inc. boosted its stake in Affiliated Managers Group by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,096 shares of the asset manager’s stock valued at $180,000 after buying an additional 33 shares during the period. Finally, CI Global Investments Inc. purchased a new stake in Affiliated Managers Group during the first quarter valued at approximately $181,000. Institutional investors own 98.85% of the company’s stock.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 EPS for the quarter, topping the consensus estimate of $3.18 by $0.03. Affiliated Managers Group had a net margin of 21.48% and a return on equity of 17.65%. The firm had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $551.56 million. During the same period in the previous year, the business earned $2.94 earnings per share. Affiliated Managers Group’s revenue for the quarter was down .2% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, May 9th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 9.35%.
A number of equities analysts have recently issued reports on AMG shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $185.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 4th. TheStreet upgraded shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a report on Monday, March 20th. Citigroup Inc reiterated a “buy” rating on shares of Affiliated Managers Group in a report on Tuesday, January 31st. Jefferies Group LLC increased their price target on shares of Affiliated Managers Group from $191.00 to $195.00 and gave the company a “positive” rating in a report on Wednesday, February 15th. Finally, Credit Suisse Group AG set a $194.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Tuesday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $186.88.
In other Affiliated Managers Group news, Director Patrick T. Ryan sold 8,902 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $152.89, for a total value of $1,361,026.78. Following the sale, the director now directly owns 10,342 shares in the company, valued at $1,581,188.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.96% of the stock is currently owned by insiders.
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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