EP Wealth Advisors LLC Acquires New Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

EP Wealth Advisors LLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,460 shares of the asset manager’s stock, valued at approximately $260,000.

Other large investors have also made changes to their positions in the company. Ensign Peak Advisors Inc lifted its stake in shares of Affiliated Managers Group by 0.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after purchasing an additional 60 shares during the period. Covestor Ltd raised its position in Affiliated Managers Group by 21.4% in the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after acquiring an additional 83 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Affiliated Managers Group by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after acquiring an additional 90 shares during the last quarter. Kendall Capital Management grew its position in shares of Affiliated Managers Group by 2.5% during the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after acquiring an additional 100 shares during the period. Finally, Foundry Partners LLC increased its stake in shares of Affiliated Managers Group by 3.0% in the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock worth $672,000 after purchasing an additional 110 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AMG. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Stock Down 1.1 %

NYSE:AMG opened at $186.71 on Friday. The business’s 50-day simple moving average is $187.62 and its two-hundred day simple moving average is $174.00. Affiliated Managers Group, Inc. has a 52 week low of $145.36 and a 52 week high of $199.52. The stock has a market cap of $5.64 billion, a PE ratio of 12.18, a P/E/G ratio of 0.69 and a beta of 1.15.

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

Affiliated Managers Group Dividend Announcement

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

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.