Fulcrum Asset Management LLP boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 455.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,628 shares of the asset manager’s stock after purchasing an additional 64,462 shares during the quarter. Affiliated Managers Group makes up 1.3% of Fulcrum Asset Management LLP’s investment portfolio, making the stock its 9th largest position. Fulcrum Asset Management LLP’s holdings in Affiliated Managers Group were worth $29,140,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in AMG. BlackRock Inc. purchased a new position in Affiliated Managers Group during the 2nd quarter valued at about $938,294,000. Bank of America Corp DE purchased a new stake in shares of Affiliated Managers Group in the second quarter worth about $146,331,000. Bank of New York Mellon Corp purchased a new stake in shares of Affiliated Managers Group in the second quarter worth about $95,418,000. Bruni J V & Co. Co. bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $71,095,810. Finally, Kiltearn Partners LLP bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $62,464,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.
Affiliated Managers Group Stock Down 0.3%
AMG stock opened at $361.79 on Monday. The company’s 50 day moving average is $371.73 and its 200 day moving average is $333.89. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 1-year low of $246.11 and a 1-year high of $400.13.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on AMG. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. TD Cowen raised their price target on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a report on Monday, October 12th. Finally, Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $438.25.
Get Our Latest Stock Report on AMG
About Affiliated Managers Group
Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.
Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.
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