Bailard Inc. Makes New Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Bailard Inc. acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 1,800 shares of the asset manager's stock, valued at approximately $302,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock valued at $536,000 after purchasing an additional 70 shares during the period. Versant Capital Management Inc raised its position in Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after purchasing an additional 75 shares during the period. Parallel Advisors LLC raised its position in Affiliated Managers Group by 6.8% in the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock valued at $197,000 after purchasing an additional 75 shares during the period. Private Trust Co. NA raised its position in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after purchasing an additional 83 shares during the period. Finally, M&T Bank Corp raised its position in Affiliated Managers Group by 4.8% in the first quarter. M&T Bank Corp now owns 1,956 shares of the asset manager's stock valued at $329,000 after purchasing an additional 90 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG traded up $2.30 during midday trading on Tuesday, hitting $208.96. The company's stock had a trading volume of 205,132 shares, compared to its average volume of 219,494. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.63 and a beta of 1.09. The stock's 50 day simple moving average is $188.30 and its 200 day simple moving average is $176.50. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $212.01.

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

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

AMG has been the topic of a number of analyst reports. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $197.00 to $218.00 in a report on Friday, June 27th. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Bank of America lowered their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Hold" and an average target price of $197.80.

About Affiliated Managers Group

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.