Affiliated Managers Group, Inc. (AMG) Holdings Trimmed by Clearbridge Investments LLC
Clearbridge Investments LLC lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.6% in the 4th quarter, HoldingsChannel reports. The fund owned 609,882 shares of the asset manager’s stock after selling 3,946 shares during the period. Clearbridge Investments LLC’s holdings in Affiliated Managers Group were worth $125,178,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. IFM Investors Pty Ltd acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $201,000. Waldron LP acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $201,000. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $204,000. Advisor Group Inc. lifted its holdings in shares of 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 period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $205,000. 96.33% of the stock is owned by institutional investors and hedge funds.
Affiliated Managers Group, Inc. (AMG) opened at $196.11 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10,687.21, a P/E ratio of 13.40, a P/E/G ratio of 0.70 and a beta of 1.55. Affiliated Managers Group, Inc. has a 12-month low of $148.81 and a 12-month high of $216.99.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were given a dividend of $0.30 per share. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 9.94%.
Affiliated Managers Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 29th that authorizes the company to buyback 3,400,000 shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts recently commented on AMG shares. Citigroup raised Affiliated Managers Group from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Credit Suisse Group reaffirmed a “hold” rating and set a $215.00 target price on shares of Affiliated Managers Group in a report on Friday, January 12th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a report on Tuesday, January 2nd. Barrington Research lifted their target price on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price for the company. in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $228.00.
In related news, CFO Jay C. Horgen sold 30,000 shares of Affiliated Managers Group stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the completion of the transaction, the chief financial officer now directly owns 114,039 shares in the company, valued at $21,620,654.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.
Affiliated Managers Group 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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