Bank of America Corp DE Buys 157,042 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of America Corp DE lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 541.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 186,030 shares of the asset manager's stock after acquiring an additional 157,042 shares during the quarter. Bank of America Corp DE owned approximately 0.62% of Affiliated Managers Group worth $34,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its holdings in Affiliated Managers Group by 261.0% in the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager's stock worth $13,600,000 after buying an additional 55,302 shares during the period. Ritholtz Wealth Management raised its holdings in Affiliated Managers Group by 36.7% during the 4th quarter. Ritholtz Wealth Management now owns 1,878 shares of the asset manager's stock valued at $347,000 after acquiring an additional 504 shares during the period. Empirical Asset Management LLC lifted its position in shares of Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager's stock worth $347,000 after acquiring an additional 188,568 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after acquiring an additional 69 shares during the period. Finally, Guinness Asset Management LTD boosted its holdings in shares of Affiliated Managers Group by 65.7% in the fourth quarter. Guinness Asset Management LTD now owns 3,326 shares of the asset manager's stock worth $615,000 after acquiring an additional 1,319 shares during the period. Institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMG. Bank of America decreased their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. StockNews.com raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. TD Cowen lowered their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Finally, Barrington Research reduced their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of "Hold" and an average price target of $192.40.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded down $0.82 on Thursday, hitting $175.25. 15,463 shares of the company traded hands, compared to its average volume of 231,287. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.98 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.57 and a beta of 1.06. The firm's 50-day simple moving average is $166.54 and its 200 day simple moving average is $175.46.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The business had revenue of $496.60 million for the quarter, compared to analysts' expectations of $508.00 million. During the same quarter in the prior year, the firm earned $5.37 earnings per share. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.30%.

About Affiliated Managers Group

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.