Pictet Asset Management Ltd. Sells 2,300 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)
Pictet Asset Management Ltd. reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,813 shares of the asset manager’s stock after selling 2,300 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of Affiliated Managers Group worth $2,378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alta Capital Management LLC increased its holdings in Affiliated Managers Group by 4.7% in the 2nd quarter. Alta Capital Management LLC now owns 2,685 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 120 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Affiliated Managers Group by 0.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after buying an additional 7,655 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Affiliated Managers Group by 9.2% in the 2nd quarter. OLD National Bancorp IN now owns 9,106 shares of the asset manager’s stock worth $839,000 after buying an additional 766 shares during the last quarter. Barr E S & Co. increased its holdings in shares of Affiliated Managers Group by 9.8% in the 2nd quarter. Barr E S & Co. now owns 177,206 shares of the asset manager’s stock worth $16,328,000 after buying an additional 15,824 shares during the last quarter. Finally, Regal Investment Advisors LLC increased its holdings in shares of Affiliated Managers Group by 7.8% in the 2nd quarter. Regal Investment Advisors LLC now owns 15,187 shares of the asset manager’s stock worth $1,399,000 after buying an additional 1,096 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.
In other news, Director Samuel T. Byrne purchased 6,589 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $88.77 per share, with a total value of $584,905.53. Following the purchase, the director now owns 19,082 shares in the company, valued at $1,693,909.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nathaniel Dalton sold 23,000 shares of Affiliated Managers Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $76.86, for a total transaction of $1,767,780.00. Following the transaction, the director now directly owns 208,346 shares of the company’s stock, valued at $16,013,473.56. The disclosure for this sale can be found here. 1.43% of the stock is currently owned by insiders.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 29th. The asset manager reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.14. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The firm had revenue of $591.90 million for the quarter, compared to the consensus estimate of $540.89 million. During the same period in the previous year, the firm posted $3.61 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Affiliated Managers Group, Inc. will post 13.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. Affiliated Managers Group’s dividend payout ratio is presently 8.83%.
AMG has been the topic of a number of research reports. Bank of America downgraded shares of Affiliated Managers Group from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $97.00 to $85.00 in a report on Tuesday, July 30th. Citigroup reduced their target price on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Barrington Research reduced their target price on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Affiliated Managers Group currently has an average rating of “Hold” and a consensus price target of $109.84.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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