LSV Asset Management Has $78.65 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• LSV Asset Management increased its stake in Affiliated Managers Group, Inc. by 10.4% during Q1, owning over 468,000 shares valued at approximately $78.65 million.
• Analysts have mixed views on the stock, with TD Cowen and Wall Street Zen issuing "hold" ratings, while Goldman Sachs upgraded it to a "buy" with a target price increase to $218.
• Affiliated Managers Group reported earnings of $5.39 per share, surpassing expectations, although revenue fell 1.4% compared to the previous year.

LSV Asset Management raised its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,084 shares of the asset manager's stock after purchasing an additional 44,090 shares during the quarter. LSV Asset Management owned about 1.63% of Affiliated Managers Group worth $78,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Millstone Evans Group LLC boosted its holdings in Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after buying an additional 102 shares in the last quarter. Versant Capital Management Inc lifted its position in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after buying an additional 75 shares in the last quarter. Private Trust Co. NA lifted its position 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 worth $51,000 after buying an additional 83 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Affiliated Managers Group during the 1st quarter valued at $56,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Affiliated Managers Group during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMG. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $214.00 to $255.00 in a research report on Monday. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. 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. Finally, Cowen restated a "hold" rating on shares of Affiliated Managers Group in a report on Monday, July 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.20.

Affiliated Managers Group Price Performance

NYSE AMG traded up $7.01 on Monday, hitting $214.07. 235,342 shares of the stock were exchanged, compared to its average volume of 232,195. The business's fifty day moving average is $194.32 and its 200 day moving average is $178.44. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $220.00. The company has a market capitalization of $6.09 billion, a PE ratio of 15.63, a P/E/G ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The company had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.03%. The company's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.67 earnings per share. Analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's dividend payout ratio is presently 0.29%.

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.