Goodman Financial Corp Grows Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Goodman Financial Corp increased its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,806 shares of the asset manager's stock after buying an additional 1,301 shares during the quarter. Affiliated Managers Group accounts for 2.9% of Goodman Financial Corp's portfolio, making the stock its 13th largest position. Goodman Financial Corp owned about 0.28% of Affiliated Managers Group worth $13,578,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. LSV Asset Management lifted its position in Affiliated Managers Group by 79.1% in the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock valued at $78,405,000 after purchasing an additional 187,290 shares during the last quarter. Norges Bank bought a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $68,683,000. Northern Trust Corp lifted its position in Affiliated Managers Group by 8.4% in the fourth quarter. Northern Trust Corp now owns 349,611 shares of the asset manager's stock valued at $64,650,000 after purchasing an additional 26,990 shares during the last quarter. Millennium Management LLC increased its stake in shares of Affiliated Managers Group by 119.2% during the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager's stock valued at $56,493,000 after buying an additional 166,144 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Affiliated Managers Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 267,786 shares of the asset manager's stock valued at $49,519,000 after buying an additional 9,625 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 0.3%

Shares of NYSE AMG traded down $0.66 during trading on Thursday, reaching $209.87. The company had a trading volume of 281,836 shares, compared to its average volume of 194,270. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $220.00. The stock has a market cap of $5.97 billion, a PE ratio of 15.95, a P/E/G ratio of 0.64 and a beta of 1.09. The business's 50-day moving average is $193.66 and its 200 day moving average is $178.38.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. The firm had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same period in the prior year, the firm posted $4.67 earnings per share. The company's quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.30%.

Analyst Ratings Changes

Several research firms have recently issued reports on AMG. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Bank of America reduced 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. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research note on Monday. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $197.80.

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.