New Amsterdam Partners LLC NY Has $5.28 Million Holdings in Affiliated Managers Group (AMG)

New Amsterdam Partners LLC NY decreased its position in shares of Affiliated Managers Group (NYSE:AMG) by 6.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,869 shares of the asset manager’s stock after selling 1,911 shares during the quarter. New Amsterdam Partners LLC NY owned approximately 0.05% of Affiliated Managers Group worth $5,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AMG. Waldron LP bought a new position in shares of Affiliated Managers Group during the 4th quarter worth $201,000. IFM Investors Pty Ltd bought a new position in Affiliated Managers Group in the 4th quarter worth about $201,000. Canandaigua National Bank & Trust Co. bought a new position in Affiliated Managers Group in the 4th quarter worth about $204,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in Affiliated Managers Group in the 4th quarter worth about $205,000. Finally, Gofen & Glossberg LLC IL bought a new position in Affiliated Managers Group in the 4th quarter worth about $206,000. Institutional investors own 96.88% of the company’s stock.

AMG has been the subject of several analyst reports. Citigroup upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Barrington Research raised their target price on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Deutsche Bank upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $216.00 to $215.00 in a research note on Tuesday, February 13th. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Finally, ValuEngine downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Affiliated Managers Group currently has an average rating of “Buy” and a consensus price target of $215.00.

NYSE:AMG opened at $169.25 on Friday. Affiliated Managers Group has a twelve month low of $166.50 and a twelve month high of $167.43. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.30 and a current ratio of 1.30.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, April 30th. The asset manager reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.03. The firm had revenue of $612.40 million for the quarter, compared to analysts’ expectations of $586.44 million. Affiliated Managers Group had a return on equity of 19.27% and a net margin of 30.34%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.21 EPS. research analysts expect that Affiliated Managers Group will post 16.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.71%. Affiliated Managers Group’s dividend payout ratio is 8.22%.

Affiliated Managers Group declared that its Board of Directors has authorized a share buyback plan on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

In related news, CFO Jay C. Horgen sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the transaction, the chief financial officer now directly owns 114,039 shares of the company’s stock, valued at approximately $21,620,654.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Affiliated Managers Group Profile

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.

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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