Affiliated Managers Group, Inc. $AMG Stock Holdings Cut by Goodman Financial Corp

Goodman Financial Corp lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,261 shares of the asset manager’s stock after selling 1,995 shares during the quarter. Affiliated Managers Group makes up approximately 3.7% of Goodman Financial Corp’s holdings, making the stock its 6th biggest position. Goodman Financial Corp owned about 0.28% of Affiliated Managers Group worth $19,137,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after buying an additional 107 shares during the period. Root Financial Partners LLC bought a new stake in Affiliated Managers Group during the third quarter valued at about $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group during the 3rd quarter valued at approximately $34,000. Hantz Financial Services Inc. raised its position in shares of Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its stake in Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. The Goldman Sachs Group increased their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $350.14.

Affiliated Managers Group Trading Down 10.8%

Shares of NYSE AMG opened at $287.58 on Monday. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $334.78. The firm has a market cap of $7.67 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The business has a fifty day simple moving average of $305.75 and a two-hundred day simple moving average of $264.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.53 EPS. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be issued a $0.01 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.17%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.