LSV Asset Management Boosts Position 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 grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,084 shares of the asset manager's stock after purchasing an additional 44,090 shares during the period. LSV Asset Management owned approximately 1.63% of Affiliated Managers Group worth $78,652,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC lifted its position in Affiliated Managers Group by 26.1% during the fourth quarter. LPL Financial LLC now owns 4,502 shares of the asset manager's stock valued at $833,000 after purchasing an additional 933 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Affiliated Managers Group by 2.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,617 shares of the asset manager's stock valued at $854,000 after buying an additional 111 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $4,629,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Affiliated Managers Group by 24.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,090 shares of the asset manager's stock worth $941,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Foundry Partners LLC grew its position in Affiliated Managers Group by 3.4% in the fourth quarter. Foundry Partners LLC now owns 3,910 shares of the asset manager's stock worth $723,000 after acquiring an additional 129 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

AMG traded up $0.47 on Wednesday, hitting $213.12. 38,553 shares of the company were exchanged, compared to its average volume of 230,186. The firm has a fifty day simple moving average of $195.84 and a two-hundred day simple moving average of $178.87. The stock has a market capitalization of $6.06 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $220.00.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.03%. The firm had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same quarter last year, the business earned $4.67 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMG shares. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $255.00 in a research note on Monday. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and a consensus price target of $215.20.

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.