Vaughan David Investments LLC IL grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,543 shares of the asset manager’s stock after buying an additional 6,470 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Affiliated Managers Group were worth $10,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in Affiliated Managers Group by 1,295.5% in the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock worth $30,000 after purchasing an additional 285 shares during the period. JOYN Advisors Inc. raised its holdings in Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after purchasing an additional 344 shares during the period. Osborn Williams & Donohoe LLC bought a new position in Affiliated Managers Group in the 1st quarter worth $39,000. Legacy Bridge LLC bought a new position in Affiliated Managers Group in the 4th quarter worth $44,000. Finally, CSat Investment Advisory L.P. raised its holdings in Affiliated Managers Group by 173.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock worth $50,000 after purchasing an additional 328 shares during the period. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
AMG has been the topic of a number of recent research reports. ValuEngine cut Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. Jefferies Financial Group cut Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price on the stock. in a report on Tuesday, January 29th. Deutsche Bank decreased their price target on Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Barrington Research reissued a “buy” rating and set a $135.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $130.86.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($0.01). The business had revenue of $543.10 million for the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. Affiliated Managers Group’s revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.92 earnings per share. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 13.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. Affiliated Managers Group’s dividend payout ratio is presently 8.83%.
In other news, insider Jay C. Horgen acquired 11,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the completion of the transaction, the insider now directly owns 115,527 shares in the company, valued at approximately $10,765,961.13. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $110.64, for a total value of $187,424.16. Following the transaction, the director now owns 4,291 shares of the company’s stock, valued at approximately $474,756.24. The disclosure for this sale can be found here. 1.43% of the stock is owned by company insiders.
About Affiliated Managers Group
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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