Affiliated Managers Group, Inc. $AMG Shares Acquired by Clarkston Capital Partners LLC

Key Points

• Clarkston Capital Partners LLC increased its stake in Affiliated Managers Group, Inc. by 0.8%, now holding approximately 1.6 million shares valued at $266.4 million.
• Affiliated Managers Group reported $5.39 earnings per share for its most recent quarter, exceeding estimates, while revenue totaled $493.2 million, down 1.4% year-over-year.
• The company recently announced a quarterly dividend of $0.01 per share, with a payout ratio of 0.29% and a 0.0% dividend yield.

Clarkston Capital Partners LLC grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,585,324 shares of the asset manager's stock after acquiring an additional 13,135 shares during the quarter. Affiliated Managers Group accounts for approximately 5.3% of Clarkston Capital Partners LLC's holdings, making the stock its 4th largest holding. Clarkston Capital Partners LLC owned 5.51% of Affiliated Managers Group worth $266,382,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Affiliated Managers Group by 119.2% during the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager's stock worth $56,493,000 after purchasing an additional 166,144 shares during the period. Bank of America Corp DE lifted its holdings in shares of Affiliated Managers Group by 541.7% during the fourth quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager's stock worth $34,401,000 after purchasing an additional 157,042 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Affiliated Managers Group by 186.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 227,296 shares of the asset manager's stock worth $42,033,000 after purchasing an additional 148,079 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Affiliated Managers Group by 14,091.8% during the first quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after purchasing an additional 125,135 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Affiliated Managers Group during the first quarter worth about $16,060,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Trading Down 0.3%

Shares of NYSE:AMG opened at $216.9550 on Thursday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $224.30. The company has a market capitalization of $6.16 billion, a PE ratio of 15.84, a PEG ratio of 0.60 and a beta of 1.14. The business has a 50 day moving average of $204.01 and a two-hundred day moving average of $181.16.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. During the same period in the previous year, the company posted $4.67 earnings per share. Affiliated Managers Group's revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 11th. Affiliated Managers Group's dividend payout ratio is presently 0.29%.

Analyst Ratings Changes

AMG has been the subject of a number of research reports. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and set a $200.00 target price on shares of Affiliated Managers Group in a report on Tuesday, July 29th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.20.

Affiliated Managers Group Profile

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.

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