Cinctive Capital Management LP Purchases New Shares in Affiliated Managers Group, Inc. (NYSE:AMG)

Cinctive Capital Management LP acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, Holdings Channel reports. The fund acquired 17,328 shares of the asset manager’s stock, valued at approximately $3,204,000.

Several other institutional investors have also recently made changes to their positions in AMG. Boston Partners boosted its holdings in Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after purchasing an additional 373,696 shares during the last quarter. Norges Bank bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $68,683,000. Empirical Asset Management LLC boosted its stake in shares of Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after buying an additional 188,568 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $28,818,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Affiliated Managers Group by 84.3% in the 4th quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock worth $28,886,000 after buying an additional 71,458 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

AMG has been the topic of several research analyst reports. Barrington Research boosted their price objective on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.40.

Affiliated Managers Group Stock Up 2.1 %

Shares of NYSE AMG opened at $172.98 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market capitalization of $5.06 billion, a PE ratio of 11.46, a P/E/G ratio of 0.57 and a beta of 1.18. Affiliated Managers Group, Inc. has a one year low of $147.13 and a one year high of $199.52. The business’s fifty day moving average price is $171.61 and its 200-day moving average price is $180.36.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is 0.26%.

About Affiliated Managers Group

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.