Cetera Investment Advisers Purchases 2,583 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Cetera Investment Advisers increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 89.1% during the first quarter, raising its investment value to approximately $921,000.
• Several institutional investors have also significantly increased their stakes in AMG, with Millstone Evans Group LLC boosting its stake by 154.5% in the same period.
• Affiliated Managers Group recently reported a quarterly EPS of $5.39, surpassing analysts' expectations, although its revenue decreased by 1.4% year-over-year.

Cetera Investment Advisers increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 89.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,481 shares of the asset manager's stock after purchasing an additional 2,583 shares during the quarter. Cetera Investment Advisers' holdings in Affiliated Managers Group were worth $921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Millennium Management LLC increased its stake in Affiliated Managers Group by 119.2% in the 4th 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. Bank of America Corp DE boosted its holdings in shares of Affiliated Managers Group by 541.7% during the 4th quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager's stock worth $34,401,000 after buying an additional 157,042 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $28,818,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Affiliated Managers Group by 186.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 227,296 shares of the asset manager's stock worth $42,033,000 after acquiring an additional 148,079 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Affiliated Managers Group by 14,091.8% during the 1st quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after acquiring an additional 125,135 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their target price for the company from $214.00 to $255.00 in a research note on Monday, August 4th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. 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, July 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and an average target price of $215.20.

Affiliated Managers Group Stock Performance

AMG traded down $4.30 during trading on Friday, reaching $218.69. 129,889 shares of the stock were exchanged, compared to its average volume of 173,122. The stock has a market cap of $6.21 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.64 and a beta of 1.14. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $224.30. The stock's 50 day moving average price is $201.92 and its two-hundred day moving average price is $180.55.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter in the previous year, the business posted $4.67 earnings per share. Affiliated Managers Group's quarterly revenue was down 1.4% on a year-over-year basis. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Monday, August 11th. Affiliated Managers Group's dividend payout ratio is currently 0.29%.

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.