Prospera Private Wealth LLC Purchases Shares of 265 Affiliated Managers Group, Inc. (NYSE:AMG)

Prospera Private Wealth LLC acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 265 shares of the asset manager’s stock, valued at approximately $47,000.

Several other hedge funds also recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Affiliated Managers Group during the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group in the second quarter valued at $47,000. Finally, Goodman Advisory Group LLC acquired a new position in Affiliated Managers Group during the second quarter worth $50,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.7 %

Shares of AMG stock opened at $186.59 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $131.34 and a 12-month high of $199.52. The company has a market capitalization of $5.64 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18. The firm has a 50 day moving average price of $184.41 and a two-hundred day moving average price of $170.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same period in the previous year, the business posted $4.08 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMG. Deutsche Bank Aktiengesellschaft increased their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research cut their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Bank of America raised their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $196.50.

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.