Caisse DE Depot ET Placement DU Quebec Acquires New Shares in Affiliated Managers Group, Inc. $AMG

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new position in Affiliated Managers Group, Inc. (NYSE: AMG), purchasing 13,900 shares valued at approximately $2.34 million.
• Affiliated Managers Group reported a quarterly earnings per share (EPS) of $5.39, beating expectations, but experienced a 1.4% decline in revenue compared to the same period last year.
• The company recently announced a quarterly dividend of $0.01 per share, highlighting a low annualized dividend yield of 0.0%.

Caisse DE Depot ET Placement DU Quebec bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,900 shares of the asset manager's stock, valued at approximately $2,336,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC lifted its position in Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after buying an additional 102 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affiliated Managers Group during the 1st quarter valued at $36,000. Private Trust Co. NA increased its holdings in Affiliated Managers Group by 38.1% in the 1st 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 in the last quarter. Finally, Rossby Financial LCC acquired a new stake in Affiliated Managers Group in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMG shares. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $236.00 to $331.00 in a research report on Tuesday. Finally, Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of "Buy" and a consensus price target of $242.40.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG traded up $4.41 during midday trading on Tuesday, reaching $229.23. 179,777 shares of the company's stock were exchanged, compared to its average volume of 223,641. The stock has a market capitalization of $6.51 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $230.61. The business's fifty day moving average price is $210.58 and its two-hundred day moving average price is $183.93.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.Affiliated Managers Group's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.67 earnings per share. Analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.29%.

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.