Affiliated Managers Group, Inc. (AMG) Shares Bought by Riverhead Capital Management LLC

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Riverhead Capital Management LLC grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 33.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,129 shares of the asset manager’s stock after acquiring an additional 5,835 shares during the period. Riverhead Capital Management LLC’s holdings in Affiliated Managers Group were worth $3,162,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. EdgePoint Investment Group Inc. grew its stake in shares of Affiliated Managers Group by 28.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock worth $432,145,000 after buying an additional 648,919 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Affiliated Managers Group by 8.1% during the 3rd quarter. Schroder Investment Management Group now owns 957,620 shares of the asset manager’s stock valued at $130,926,000 after buying an additional 72,162 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 17.7% during the 2nd quarter. Sterling Capital Management LLC now owns 802,258 shares of the asset manager’s stock valued at $119,272,000 after buying an additional 120,592 shares during the period. Ceredex Value Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 61.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 658,050 shares of the asset manager’s stock valued at $89,969,000 after buying an additional 250,225 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Affiliated Managers Group by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 635,817 shares of the asset manager’s stock valued at $86,929,000 after buying an additional 10,925 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

In related news, Director Dwight D. Churchill sold 2,034 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $110.53, for a total value of $224,818.02. Following the transaction, the director now directly owns 6,522 shares of the company’s stock, valued at approximately $720,876.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hugh Cutler bought 1,564 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average cost of $115.48 per share, for a total transaction of $180,610.72. Following the completion of the acquisition, the executive vice president now owns 7,087 shares in the company, valued at approximately $818,406.76. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on AMG shares. Deutsche Bank lowered their price target on Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Bank of America reissued a “buy” rating and set a $130.00 price target (down from $155.00) on shares of Affiliated Managers Group in a report on Thursday. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Citigroup lowered their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Barrington Research lowered their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $183.11.

Shares of Affiliated Managers Group stock opened at $103.04 on Friday. Affiliated Managers Group, Inc. has a one year low of $101.34 and a one year high of $216.99. The firm has a market capitalization of $5.61 billion, a P/E ratio of 6.80, a P/E/G ratio of 0.59 and a beta of 1.53. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The company had revenue of $601.30 million for the quarter, compared to analysts’ expectations of $604.82 million. During the same period last year, the firm earned $3.41 EPS. Affiliated Managers Group’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 14.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Thursday, November 8th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.

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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.

See Also: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).

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

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