Affiliated Managers Group, Inc. (NYSE:AMG) Position Increased by Algert Global LLC

Algert Global LLC increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 95,227 shares of the asset manager’s stock after purchasing an additional 5,973 shares during the period. Affiliated Managers Group comprises approximately 0.5% of Algert Global LLC’s holdings, making the stock its 7th largest position. Algert Global LLC’s holdings in Affiliated Managers Group were worth $16,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of Affiliated Managers Group by 4.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,261 shares of the asset manager’s stock worth $546,000 after buying an additional 150 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Affiliated Managers Group by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,367 shares of the asset manager’s stock worth $4,582,000 after acquiring an additional 668 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Affiliated Managers Group in the first quarter valued at $201,000. Gabelli Funds LLC acquired a new stake in Affiliated Managers Group in the first quarter valued at $377,000. Finally, Lazard Asset Management LLC boosted its position in shares of Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

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

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $187.60 on Friday. The firm’s 50-day moving average is $184.41 and its two-hundred day moving average is $170.81. 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 $5.67 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.08 EPS. On average, analysts forecast that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

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.