Affiliated Managers Group, Inc. (AMG) Stake Decreased by TD Asset Management Inc.
TD Asset Management Inc. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,315 shares of the asset manager’s stock after selling 1,567 shares during the period. TD Asset Management Inc.’s holdings in Affiliated Managers Group were worth $3,369,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Affiliated Managers Group during the first quarter valued at about $104,000. Creative Planning raised its stake in 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 last quarter. Financial Architects Inc raised 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 last quarter. FNY Partners Fund LP purchased a new stake in Affiliated Managers Group during the first quarter valued at about $163,000. Finally, Pacer Advisors Inc. raised 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 last quarter. 95.29% of the stock is currently owned by institutional investors and hedge funds.
Affiliated Managers Group, Inc. (NYSE:AMG) opened at 172.84 on Monday. The firm has a market cap of $9.67 billion, a P/E ratio of 19.15 and a beta of 1.65. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08. The company’s 50 day moving average is $176.68 and its 200 day moving average is $165.25.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $570.90 million for the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.07 earnings per share. Equities research analysts forecast that Affiliated Managers Group, Inc. will post $14.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 8.87%.
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Several equities research analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research note on Friday. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. ValuEngine raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, BidaskClub raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $195.50.
In related news, CEO Sean M. Healey sold 56,928 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the sale, the chief executive officer now owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight D. Churchill sold 3,277 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the sale, the director now directly owns 7,301 shares in the company, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by 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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