Investment Partners LTD. Makes New $235,000 Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Investment Partners LTD. purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,555 shares of the asset manager’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMG. CWM LLC increased its position in Affiliated Managers Group by 7.4% in the third quarter. CWM LLC now owns 2,613 shares of the asset manager’s stock worth $341,000 after buying an additional 180 shares in the last quarter. State of Alaska Department of Revenue increased its position in Affiliated Managers Group by 160.0% in the third quarter. State of Alaska Department of Revenue now owns 19,175 shares of the asset manager’s stock worth $2,499,000 after buying an additional 11,801 shares in the last quarter. Verdence Capital Advisors LLC increased its position in Affiliated Managers Group by 3.6% in the third quarter. Verdence Capital Advisors LLC now owns 17,972 shares of the asset manager’s stock worth $2,343,000 after buying an additional 632 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Affiliated Managers Group by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the asset manager’s stock worth $892,000 after buying an additional 816 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Affiliated Managers Group by 18.2% in the third quarter. Mackenzie Financial Corp now owns 6,510 shares of the asset manager’s stock worth $827,000 after buying an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMG shares. Barrington Research upped their price objective on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. TD Cowen began coverage on Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded up $0.62 during trading on Friday, hitting $160.20. 134,487 shares of the company’s stock were exchanged, compared to its average volume of 244,682. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $169.65. The business’s 50-day simple moving average is $161.25 and its 200 day simple moving average is $147.99. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.83. The firm had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $7.28 earnings per share. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

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.