Envestnet Asset Management Inc. Purchases 266 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

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Envestnet Asset Management Inc. raised its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,488 shares of the asset manager’s stock after acquiring an additional 266 shares during the period. Envestnet Asset Management Inc.’s holdings in Affiliated Managers Group were worth $874,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMG. Ossiam bought a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $48,000. Rampart Investment Management Company LLC lifted its stake in Affiliated Managers Group by 39.6% in the 2nd quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 189 shares in the last quarter. Truvestments Capital LLC bought a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $74,000. CSat Investment Advisory L.P. lifted its stake in Affiliated Managers Group by 64.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 332 shares in the last quarter. Finally, ETF Managers Group LLC bought a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $151,000. Hedge funds and other institutional investors own 93.73% of the company’s stock.

Shares of Affiliated Managers Group stock opened at $86.86 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $71.08 and a 12-month high of $116.80. The stock has a market cap of $4.30 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.64 and a beta of 1.64. The company has a quick ratio of 0.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $79.54 and its 200-day moving average is $86.10.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, October 28th. The asset manager reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. Affiliated Managers Group had a positive return on equity of 17.83% and a negative net margin of 7.03%. The company had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $547.10 million. During the same quarter in the prior year, the business posted $3.45 EPS. The business’s revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 13.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, November 6th. Affiliated Managers Group’s dividend payout ratio is currently 8.83%.

Several research firms have commented on AMG. ValuEngine upgraded Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on Affiliated Managers Group from $75.00 to $85.00 and gave the company an “underperform” rating in a research note on Tuesday, October 8th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating and set a $81.00 price objective on the stock in a research note on Thursday, October 3rd. Barrington Research set a $100.00 price objective on Affiliated Managers Group and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Citigroup dropped their price objective on Affiliated Managers Group from $98.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $96.70.

In other Affiliated Managers Group news, Director Samuel T. Byrne bought 6,589 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $88.77 per share, with a total value of $584,905.53. Following the acquisition, the director now owns 19,082 shares of the company’s stock, valued at $1,693,909.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nathaniel Dalton sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $76.86, for a total value of $1,767,780.00. Following the transaction, the director now directly owns 208,346 shares in the company, valued at $16,013,473.56. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.

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

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