8,989 Affiliated Managers Group, Inc. $AMG Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Affiliated Managers Group stake by 61.5% in the third quarter, purchasing 8,989 shares and bringing its total holdings to 23,602 shares valued at approximately $8.63 million.
• Institutional investors and hedge funds own 95.3% of AMG’s outstanding shares, with several other firms also establishing or expanding positions recently.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $388.33. AMG most recently beat quarterly earnings and revenue expectations.

Crossmark Global Holdings Inc. boosted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 61.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,602 shares of the asset manager's stock after buying an additional 8,989 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.09% of Affiliated Managers Group worth $8,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth about $25,000. Mather Group LLC. increased its stake in shares of Affiliated Managers Group by 335.3% in the 3rd quarter. Mather Group LLC. now owns 74 shares of the asset manager's stock valued at $27,000 after purchasing an additional 57 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group in the 4th quarter worth about $42,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Affiliated Managers Group in the 2nd quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMG. Zacks Research lowered Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. TD Cowen upped their target price on Affiliated Managers Group from $512.00 to $523.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Wall Street Zen cut shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Finally, Weiss Ratings raised shares of Affiliated Managers Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $388.33.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $395.24 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group, Inc. has a 1 year low of $235.04 and a 1 year high of $397.06. The firm has a market capitalization of $10.22 billion, a PE ratio of 13.69, a P/E/G ratio of 0.50 and a beta of 1.07. The business's 50 day moving average price is $368.85 and its 200-day moving average price is $343.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The firm had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same period in the prior year, the company earned $5.39 EPS. The firm's revenue was up .0% compared to the same quarter last year. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 36.87 earnings per share for the current fiscal year.

About Affiliated Managers Group

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.

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