Kestra Advisory Services LLC Takes $2.73 Million Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Kestra Advisory Services LLC acquired 16,232 shares of Affiliated Managers Group, Inc., valued at approximately $2.73 million, representing about 0.06% of the company's stock.
• Analysts have upgraded their ratings on Affiliated Managers Group, with Goldman Sachs raising its price target from $197 to $218, and TD Cowen increasing it to $255.
• Affiliated Managers Group reported a quarterly EPS of $5.39, exceeding estimates, but noted revenue decreased by 1.4% year-over-year.

Kestra Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,232 shares of the asset manager's stock, valued at approximately $2,727,000. Kestra Advisory Services LLC owned 0.06% of Affiliated Managers Group at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after purchasing an additional 102 shares during the period. Versant Capital Management Inc increased its holdings in shares of Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after purchasing an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Affiliated Managers Group in the 1st quarter valued at approximately $36,000. Private Trust Co. NA increased its stake in Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares during the period. Finally, Rossby Financial LCC acquired a new position in Affiliated Managers Group in the 1st quarter valued at approximately $56,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Up 0.0%

Affiliated Managers Group stock traded up $0.05 during mid-day trading on Wednesday, hitting $230.02. 189,729 shares of the company's stock were exchanged, compared to its average volume of 153,520. The stock has a market cap of $6.53 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.62 and a beta of 1.19. The stock has a 50 day moving average of $212.26 and a two-hundred day moving average of $184.56. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $232.00.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.67 EPS. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.29%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Finally, Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of "Buy" and a consensus price target of $242.40.

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.