Affiliated Managers Group (AMG) Holdings Reduced by Comerica Bank

Comerica Bank decreased its holdings in Affiliated Managers Group (NYSE:AMG) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,731 shares of the asset manager’s stock after selling 419 shares during the quarter. Comerica Bank’s holdings in Affiliated Managers Group were worth $2,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Affiliated Managers Group by 2.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,456,274 shares of the asset manager’s stock worth $709,402,000 after purchasing an additional 96,556 shares during the period. BlackRock Inc. grew its holdings in shares of Affiliated Managers Group by 0.8% during the 4th quarter. BlackRock Inc. now owns 3,430,442 shares of the asset manager’s stock worth $704,097,000 after purchasing an additional 27,729 shares during the period. Atlanta Capital Management Co. L L C grew its holdings in shares of Affiliated Managers Group by 6.1% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,052,330 shares of the asset manager’s stock worth $421,240,000 after purchasing an additional 117,377 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Affiliated Managers Group by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,584,476 shares of the asset manager’s stock worth $325,214,000 after purchasing an additional 24,985 shares during the period. Finally, Lyrical Asset Management LP grew its holdings in shares of Affiliated Managers Group by 3.6% during the 4th quarter. Lyrical Asset Management LP now owns 1,167,853 shares of the asset manager’s stock worth $239,702,000 after purchasing an additional 40,317 shares during the period. Institutional investors own 94.60% of the company’s stock.

In other news, CFO Jay C. Horgen sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total value of $5,687,700.00. Following the completion of the sale, the chief financial officer now directly owns 114,039 shares in the company, valued at approximately $21,620,654.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Shares of Affiliated Managers Group opened at $164.96 on Thursday, according to MarketBeat.com. Affiliated Managers Group has a 52-week low of $151.39 and a 52-week high of $216.99. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, April 30th. The asset manager reported $3.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.89 by $0.03. Affiliated Managers Group had a return on equity of 19.27% and a net margin of 30.34%. The company had revenue of $612.40 million for the quarter, compared to analyst estimates of $586.44 million. During the same period in the prior year, the company posted $3.21 EPS. Affiliated Managers Group’s quarterly revenue was up 12.5% on a year-over-year basis. sell-side analysts expect that Affiliated Managers Group will post 16.56 earnings per share for the current fiscal year.

Affiliated Managers Group announced that its Board of Directors has authorized a share buyback plan on Monday, January 29th that permits the company to repurchase 3,400,000 shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Wednesday, May 9th. Affiliated Managers Group’s payout ratio is 8.22%.

AMG has been the topic of several recent research reports. Citigroup boosted their price target on Affiliated Managers Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Jefferies Group reissued a “buy” rating and set a $226.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, April 11th. Deutsche Bank boosted their price target on Affiliated Managers Group from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Barrington Research reaffirmed a “buy” rating and issued a $220.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 30th. Finally, ValuEngine lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Affiliated Managers Group has an average rating of “Buy” and an average price target of $215.00.

Affiliated Managers Group 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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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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