Affiliated Managers Group, Inc. (NYSE:AMG) Stake Lowered by Jackson Square Partners LLC
Jackson Square Partners LLC decreased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 449,857 shares of the asset manager’s stock after selling 13,577 shares during the period. Jackson Square Partners LLC’s holdings in Affiliated Managers Group were worth $48,184,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Affiliated Managers Group during the 1st quarter worth approximately $30,000. Proficio Capital Partners LLC grew its position 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 valued at $30,000 after purchasing an additional 285 shares during the period. Osborn Williams & Donohoe LLC acquired a new stake in Affiliated Managers Group in the 1st quarter valued at $39,000. JOYN Advisors Inc. grew its position in Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 344 shares during the period. Finally, CSat Investment Advisory L.P. grew its position 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 valued at $50,000 after purchasing an additional 328 shares during the period. 94.71% of the stock is owned by institutional investors.
NYSE:AMG traded down $0.99 during trading hours on Wednesday, hitting $89.02. 6,450 shares of the company traded hands, compared to its average volume of 556,218. Affiliated Managers Group, Inc. has a one year low of $83.10 and a one year high of $165.24. The stock has a market cap of $4.57 billion, a PE ratio of 6.13, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.83%.
In related news, insider Jay C. Horgen acquired 11,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were acquired at an average cost of $93.19 per share, for a total transaction of $1,025,090.00. Following the purchase, the insider now owns 115,527 shares in the company, valued at $10,765,961.13. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.43% of the stock is currently owned by company insiders.
Several research firms recently issued reports on AMG. Barrington Research reissued a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 2nd. ValuEngine downgraded shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Deutsche Bank reduced their price target on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Finally, Bank of America reissued a “buy” rating and issued a $97.00 price target (down previously from $113.00) on shares of Affiliated Managers Group in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $126.73.
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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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