Huntington National Bank Boosts Stock Holdings in Affiliated Managers Group, Inc. $AMG

Huntington National Bank raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 129.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 541 shares of the asset manager’s stock after acquiring an additional 305 shares during the period. Huntington National Bank’s holdings in Affiliated Managers Group were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Millstone Evans Group LLC grew its position in shares of Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Affiliated Managers Group during the first quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after buying an additional 102 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Affiliated Managers Group in the 1st quarter worth approximately $56,000. Finally, American National Bank & Trust purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $58,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMG shares. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group restated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday. Finally, UBS Group set a $295.00 price target on Affiliated Managers Group in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.57.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Up 0.0%

Affiliated Managers Group stock opened at $258.87 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $261.32. The firm has a 50-day moving average price of $239.11 and a 200-day moving average price of $210.22. The firm has a market capitalization of $7.36 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.82 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

About Affiliated Managers Group

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.