Northern Trust Corp Has $64.74 Million Stock Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Northern Trust Corp has increased its stake in Affiliated Managers Group by 10.2%, owning 385,292 shares valued at approximately $64.74 million.
• Affiliated Managers Group reported $5.39 EPS for the last quarter, exceeding analysts' expectations, though its revenue of $493.20 million was below the anticipated $506.46 million.
• The company declared a quarterly dividend of $0.01 per share, with a payout ratio of 0.29%, reflecting a low annual yield.

Northern Trust Corp raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 385,292 shares of the asset manager's stock after buying an additional 35,681 shares during the period. Northern Trust Corp owned approximately 1.34% of Affiliated Managers Group worth $64,741,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 154.5% in 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% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after buying an additional 75 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Affiliated Managers Group in the first quarter valued at $56,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Affiliated Managers Group in the first quarter valued at $56,000. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock traded down $2.65 during trading hours on Friday, hitting $224.77. The company had a trading volume of 137,166 shares, compared to its average volume of 165,287. The firm has a market capitalization of $6.39 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19. The firm's fifty day moving average is $209.76 and its 200-day moving average is $183.54. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $229.40.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.67 EPS. Analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a $0.01 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's payout ratio is 0.29%.

Analysts Set New Price Targets

Several research firms have issued reports on AMG. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Finally, The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $215.20.

Affiliated Managers Group Company 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.