Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 785.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,859 shares of the asset manager's stock after acquiring an additional 1,649 shares during the period. Farther Finance Advisors LLC's holdings in Affiliated Managers Group were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Affiliated Managers Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock worth $593,935,000 after acquiring an additional 31,343 shares during the period. Boston Partners increased its stake in Affiliated Managers Group by 46.1% in the 4th quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock worth $218,975,000 after purchasing an additional 373,696 shares in the last quarter. Channing Capital Management LLC increased its stake in Affiliated Managers Group by 5.5% in the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock worth $95,156,000 after purchasing an additional 26,654 shares in the last quarter. LSV Asset Management increased its stake in Affiliated Managers Group by 79.1% in the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock worth $78,405,000 after purchasing an additional 187,290 shares in the last quarter. Finally, Norges Bank purchased a new position in Affiliated Managers Group in the 4th quarter worth about $68,683,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMG shares. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Barrington Research dropped their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. TD Cowen lowered their target price on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Bank of America lowered their target price 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Hold" and an average target price of $192.40.

Affiliated Managers Group Stock Performance

AMG opened at $182.23 on Wednesday. The business has a 50 day moving average price of $172.68 and a 200 day moving average price of $174.60. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $199.52. The firm has a market cap of $5.18 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. The company had revenue of $496.60 million during the quarter, compared to analyst estimates of $508.00 million. During the same period in the previous year, the company earned $5.37 earnings per share. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.30%.

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.

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