Nordea Investment Management AB Acquires 2,448 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Nordea Investment Management AB grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.0% in the 4th quarter, Holdings Channel reports. The fund owned 43,018 shares of the asset manager’s stock after purchasing an additional 2,448 shares during the quarter. Nordea Investment Management AB’s holdings in Affiliated Managers Group were worth $8,009,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its position in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after acquiring an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group during the third quarter worth $46,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $47,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

AMG has been the topic of several recent research reports. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $191.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barrington Research lowered their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $195.40.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $180.63 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $145.36 and a fifty-two week high of $199.52. The firm has a market capitalization of $5.46 billion, a PE ratio of 11.78, a P/E/G ratio of 0.69 and a beta of 1.15. The company’s 50-day moving average is $185.50 and its 200-day moving average is $177.75.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data 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 in the previous year, the business earned $4.08 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts expect that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.26%.

Affiliated Managers Group Company 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.