Farther Finance Advisors LLC Purchases 1,649 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Farther Finance Advisors LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 785.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,859 shares of the asset manager's stock after purchasing an additional 1,649 shares during the quarter. Farther Finance Advisors LLC's holdings in Affiliated Managers Group were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Affiliated Managers Group by 43.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,133 shares of the asset manager's stock valued at $212,000 after purchasing an additional 344 shares during the period. Truist Financial Corp grew its holdings in shares of Affiliated Managers Group by 15.7% in the 4th quarter. Truist Financial Corp now owns 2,699 shares of the asset manager's stock valued at $499,000 after acquiring an additional 366 shares in the last quarter. Kestra Investment Management LLC lifted its stake in Affiliated Managers Group by 29.9% in the 4th quarter. Kestra Investment Management LLC now owns 4,656 shares of the asset manager's stock valued at $861,000 after purchasing an additional 1,071 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Affiliated Managers Group by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 192,524 shares of the asset manager's stock valued at $35,602,000 after purchasing an additional 7,377 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Affiliated Managers Group by 12.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the asset manager's stock valued at $1,479,000 after purchasing an additional 900 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMG shares. Bank of America cut their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. TD Cowen decreased their price objective on shares of 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. Wall Street Zen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Barrington Research decreased their target price on shares of 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. Finally, Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $192.40.

Affiliated Managers Group Trading Down 0.1%

Shares of AMG stock traded down $0.13 during mid-day trading on Friday, reaching $184.41. The stock had a trading volume of 426,973 shares, compared to its average volume of 223,504. The stock's 50-day moving average price is $174.30 and its two-hundred day moving average price is $174.58. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $199.52. The firm has a market capitalization of $5.24 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. The business had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same quarter in the previous year, the firm posted $5.37 earnings per share. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group's dividend payout ratio is currently 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.