Engineers Gate Manager LP Purchases 32,023 Shares of Affiliated Managers Group, Inc. $AMG

Engineers Gate Manager LP raised its position in Affiliated Managers Group, Inc. (NYSE:AMGFree Report) by 161.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,861 shares of the asset manager’s stock after buying an additional 32,023 shares during the quarter. Engineers Gate Manager LP’s holdings in Affiliated Managers Group were worth $17,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of Affiliated Managers Group by 30,051.3% in the second quarter. California State Teachers Retirement System now owns 9,905,306 shares of the asset manager’s stock valued at $3,351,956,000 after acquiring an additional 9,872,454 shares during the period. BlackRock Inc. bought a new position in Affiliated Managers Group during the second quarter worth about $938,294,000. Bank of America Corp DE acquired a new stake in Affiliated Managers Group in the 2nd quarter worth about $146,331,000. Norges Bank acquired a new stake in Affiliated Managers Group in the 4th quarter worth about $113,743,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMG shares. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday, July 31st. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Finally, TD Cowen restated a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $370.86.

Check Out Our Latest Stock Analysis on Affiliated Managers Group

Affiliated Managers Group Price Performance

AMG stock opened at $356.73 on Thursday. The company’s 50-day moving average price is $363.82 and its two-hundred day moving average price is $324.72. The firm has a market cap of $9.23 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.49 and a beta of 1.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 12 month low of $230.10 and a 12 month high of $392.92.

Affiliated Managers Group (NYSE:AMGGet Free Report) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. During the same period last year, the firm posted $5.39 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.14%.

Affiliated Managers Group Company Profile

(Free Report)

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.

Further Reading

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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