Ronald Blue Trust Inc. lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 80.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 258 shares of the asset manager’s stock after selling 1,050 shares during the quarter. Ronald Blue Trust Inc.’s holdings in Affiliated Managers Group were worth $37,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of AMG. Machina Capital S.A.S. purchased a new position in Affiliated Managers Group during the 1st quarter worth $28,000. BOKF NA acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth $36,000. Lazard Asset Management LLC grew its stake in shares of Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after purchasing an additional 119 shares during the period. Quarry LP grew its stake in shares of Affiliated Managers Group by 1,193.3% during the 1st quarter. Quarry LP now owns 388 shares of the asset manager’s stock worth $55,000 after purchasing an additional 358 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Affiliated Managers Group by 23.7% during the 1st quarter. Signaturefd LLC now owns 481 shares of the asset manager’s stock worth $69,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AMG. StockNews.com began coverage on shares of Affiliated Managers Group in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Barrington Research lowered their price target on shares of Affiliated Managers Group from $195.00 to $175.00 in a research note on Wednesday, July 26th. Finally, Jefferies Financial Group increased their price objective on shares of Affiliated Managers Group from $175.00 to $176.00 in a research note on Monday, July 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of “Moderate Buy” and a consensus price target of $180.08.
Affiliated Managers Group Trading Down 1.4 %
Shares of NYSE AMG opened at $130.34 on Friday. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 0.77 and a beta of 1.33. Affiliated Managers Group, Inc. has a 52 week low of $108.12 and a 52 week high of $180.63. The company’s 50-day moving average price is $135.36 and its 200 day moving average price is $141.16.
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $4.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.22. Affiliated Managers Group had a net margin of 53.54% and a return on equity of 18.93%. The company had revenue of $512.50 million for the quarter, compared to analysts’ expectations of $540.32 million. During the same period last year, the company earned $4.03 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 17.76 earnings per share for the current year.
Affiliated Managers Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.15%.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.
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