Affiliated Managers Group, Inc. (NYSE:AMG) Director Reuben Jeffery III Acquires 3,650 Shares of Stock

Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) Director Reuben Jeffery III purchased 3,650 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was acquired at an average cost of $137.21 per share, with a total value of $500,816.50. Following the completion of the acquisition, the director now directly owns 31,726 shares of the company’s stock, valued at $4,353,124.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Affiliated Managers Group Stock Down 2.4 %

Affiliated Managers Group stock traded down $3.29 during trading hours on Friday, hitting $133.32. The stock had a trading volume of 731,233 shares, compared to its average volume of 316,760. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 5.07, a P/E/G ratio of 0.65 and a beta of 1.35. Affiliated Managers Group, Inc. has a one year low of $108.12 and a one year high of $180.63. The business’s 50 day simple moving average is $162.11 and its 200-day simple moving average is $146.47.

Affiliated Managers Group (NYSE:AMG – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The asset manager reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.25. Affiliated Managers Group had a return on equity of 21.29% and a net margin of 49.18%. The company had revenue of $539.60 million during the quarter, compared to the consensus estimate of $599.42 million. During the same period last year, the company earned $6.10 earnings per share. Research analysts anticipate that Affiliated Managers Group, Inc. will post 19.19 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.15%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Affiliated Managers Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,791,126 shares of the asset manager’s stock worth $424,037,000 after acquiring an additional 43,391 shares during the last quarter. BlackRock Inc. grew its stake in Affiliated Managers Group by 1.0% during the third quarter. BlackRock Inc. now owns 3,411,411 shares of the asset manager’s stock worth $381,565,000 after purchasing an additional 32,947 shares during the period. Morgan Stanley grew its stake in Affiliated Managers Group by 907.4% during the fourth quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after purchasing an additional 2,497,690 shares during the period. Clarkston Capital Partners LLC grew its stake in Affiliated Managers Group by 2.4% during the third quarter. Clarkston Capital Partners LLC now owns 2,077,383 shares of the asset manager’s stock worth $232,355,000 after purchasing an additional 49,201 shares during the period. Finally, State Street Corp grew its stake in Affiliated Managers Group by 4.2% during the first quarter. State Street Corp now owns 1,352,135 shares of the asset manager’s stock worth $190,583,000 after purchasing an additional 54,161 shares during the period. 95.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft boosted their target price on Affiliated Managers Group from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, February 6th. StockNews.com assumed coverage on Affiliated Managers Group in a research note on Thursday. They issued a “buy” rating on the stock. Barrington Research boosted their target price on Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Jefferies Financial Group upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $192.00 in a research note on Monday, November 28th. Finally, The Goldman Sachs Group started coverage on Affiliated Managers Group in a report on Monday, November 21st. They set a “buy” rating and a $182.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $185.21.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.