Scotia Capital Inc. Acquires 574 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Scotia Capital Inc. boosted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,897 shares of the asset manager’s stock after acquiring an additional 574 shares during the quarter. Scotia Capital Inc. owned approximately 0.07% of Affiliated Managers Group worth $3,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Alta Capital Management LLC grew its stake in shares of Affiliated Managers Group by 4.7% in the second quarter. Alta Capital Management LLC now owns 2,685 shares of the asset manager’s stock worth $247,000 after acquiring an additional 120 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Affiliated Managers Group by 0.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after acquiring an additional 7,655 shares during the last quarter. OLD National Bancorp IN grew its stake in shares of Affiliated Managers Group by 9.2% in the second quarter. OLD National Bancorp IN now owns 9,106 shares of the asset manager’s stock worth $839,000 after acquiring an additional 766 shares during the last quarter. Barr E S & Co. grew its stake in shares of Affiliated Managers Group by 9.8% in the second quarter. Barr E S & Co. now owns 177,206 shares of the asset manager’s stock worth $16,328,000 after acquiring an additional 15,824 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its stake in shares of Affiliated Managers Group by 7.8% in the second quarter. Regal Investment Advisors LLC now owns 15,187 shares of the asset manager’s stock worth $1,399,000 after acquiring an additional 1,096 shares during the last quarter. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AMG traded up $0.43 during midday trading on Friday, reaching $88.64. 30,930 shares of the company traded hands, compared to its average volume of 456,859. The firm has a market cap of $4.37 billion, a PE ratio of 6.11, a PEG ratio of 0.64 and a beta of 1.64. The stock’s 50-day simple moving average is $79.90 and its 200-day simple moving average is $94.17. Affiliated Managers Group, Inc. has a 12 month low of $73.90 and a 12 month high of $147.94.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $3.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.19 by $0.14. The business had revenue of $591.90 million during the quarter, compared to analysts’ expectations of $540.89 million. Affiliated Managers Group had a positive return on equity of 17.68% and a negative net margin of 5.19%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.61 earnings per share. Equities analysts expect that Affiliated Managers Group, Inc. will post 13.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.28 annualized dividend and a dividend yield of 1.44%. Affiliated Managers Group’s dividend payout ratio is presently 8.83%.

In other news, Director Nathaniel Dalton sold 23,000 shares of the company’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 transaction of $1,767,780.00. Following the sale, the director now owns 208,346 shares in the company, valued at approximately $16,013,473.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jide James Zeitlin sold 54,350 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $92.22, for a total value of $5,012,157.00. The disclosure for this sale can be found here. 1.43% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Bank of America downgraded shares of Affiliated Managers Group from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $97.00 to $85.00 in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Affiliated Managers Group has a consensus rating of “Hold” and an average target price of $109.84.

About Affiliated Managers Group

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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