Mutual of America Capital Management LLC raised its position in Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 1.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 37,067 shares of the asset manager’s stock after purchasing an additional 703 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Affiliated Managers Group were worth $5,225,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC acquired a new position in Affiliated Managers Group in the fourth quarter valued at about $3,790,000. Inspire Investing LLC bought a new position in shares of Affiliated Managers Group in the first quarter worth about $804,000. Louisiana State Employees Retirement System raised its stake in shares of Affiliated Managers Group by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the asset manager’s stock worth $1,484,000 after acquiring an additional 100 shares during the last quarter. Greenleaf Trust raised its stake in shares of Affiliated Managers Group by 6.8% in the first quarter. Greenleaf Trust now owns 1,438 shares of the asset manager’s stock worth $203,000 after acquiring an additional 92 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Affiliated Managers Group by 34.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,950 shares of the asset manager’s stock worth $979,000 after acquiring an additional 1,537 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AMG has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of Affiliated Managers Group from $241.00 to $222.00 in a research note on Tuesday, May 3rd. Barrington Research dropped their price target on shares of Affiliated Managers Group from $190.00 to $160.00 in a research note on Monday, May 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Affiliated Managers Group from $167.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Affiliated Managers Group from $152.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.20.
Affiliated Managers Group Stock Down 0.7 %
Affiliated Managers Group stock opened at $120.71 on Monday. The stock has a market capitalization of $4.70 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33. Affiliated Managers Group, Inc. has a twelve month low of $109.57 and a twelve month high of $191.62. The company has a 50 day moving average of $123.18 and a 200-day moving average of $133.62.
Affiliated Managers Group (NYSE:AMG – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.33. The company had revenue of $607.30 million during the quarter, compared to analysts’ expectations of $662.80 million. Affiliated Managers Group had a net margin of 22.84% and a return on equity of 22.99%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.28 earnings per share. Equities analysts anticipate that Affiliated Managers Group, Inc. will post 17.98 EPS for the current fiscal year.
Affiliated Managers Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.30%.
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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