Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 20.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,428 shares of the asset manager’s stock after acquiring an additional 2,106 shares during the period. Eagle Asset Management Inc.’s holdings in Affiliated Managers Group were worth $2,299,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Foundry Partners LLC lifted its stake in shares of Affiliated Managers Group by 3.0% in the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock valued at $672,000 after purchasing an additional 110 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Affiliated Managers Group in the third quarter valued at about $321,000. Prospera Private Wealth LLC purchased a new position in Affiliated Managers Group during the third quarter worth about $47,000. Quest Partners LLC increased its position in shares of Affiliated Managers Group by 109.9% during the third quarter. Quest Partners LLC now owns 12,268 shares of the asset manager’s stock valued at $2,181,000 after acquiring an additional 6,424 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $241,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

AMG stock opened at $189.24 on Tuesday. Affiliated Managers Group, Inc. has a 1 year low of $131.34 and a 1 year high of $199.52. The business’s 50-day moving average is $185.08 and its two-hundred day moving average is $171.46. The firm has a market capitalization of $5.72 billion, a P/E ratio of 12.34, a P/E/G ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the company earned $4.08 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s payout ratio is currently 0.26%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMG shares. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research cut their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Hold” and a consensus target price of $196.50.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.