Mackenzie Financial Corp Has $651,000 Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Mackenzie Financial Corp sold 3,961 shares of Affiliated Managers Group, reducing its holdings by 50.6%, leaving it with 3,873 shares worth approximately $651,000.
• Various institutional investors, including LPL Financial LLC and Wells Fargo, have been actively buying or increasing their stakes in Affiliated Managers Group, with institutional ownership at around 95.30%.
• Affiliated Managers Group reported earnings of $5.39 per share for the last quarter, exceeding analyst estimates, while also announcing a quarterly dividend of $0.01 per share to be paid on August 25th.

Mackenzie Financial Corp lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 50.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,873 shares of the asset manager's stock after selling 3,961 shares during the period. Mackenzie Financial Corp's holdings in Affiliated Managers Group were worth $651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millstone Evans Group LLC raised its holdings in 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 buying an additional 102 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after acquiring an additional 83 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Affiliated Managers Group in the 1st quarter valued at approximately $56,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Affiliated Managers Group in the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their target price for the company from $214.00 to $255.00 in a research note on Monday. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $215.20.

Affiliated Managers Group Price Performance

AMG stock traded down $4.59 on Thursday, reaching $209.30. 183,273 shares of the company were exchanged, compared to its average volume of 186,207. The firm has a market capitalization of $5.95 billion, a PE ratio of 15.28, a PEG ratio of 0.61 and a beta of 1.14. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $220.00. The stock's fifty day moving average price is $197.28 and its 200 day moving average price is $179.26.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.03%. The company had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. During the same quarter in the previous year, the firm posted $4.67 EPS. The business's revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued 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 (DPR) is presently 0.29%.

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.