Basswood Capital Management L.L.C. Buys 24,379 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Basswood Capital Management L.L.C. increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 22.7% in the third quarter, Holdings Channel reports. The firm owned 131,981 shares of the asset manager’s stock after buying an additional 24,379 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Affiliated Managers Group were worth $23,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group during the second quarter valued at approximately $47,000. Finally, Prospera Private Wealth LLC bought a new stake in Affiliated Managers Group in the third quarter valued at approximately $47,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.5 %

Shares of NYSE:AMG opened at $187.54 on Monday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 12 month low of $134.61 and a 12 month high of $199.52. The company’s fifty day simple moving average is $185.98 and its 200 day simple moving average is $172.22.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 earnings per share. Research analysts expect that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were 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 was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.26%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barrington Research reduced their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Hold” and a consensus target price of $196.50.

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.