Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 18.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,727 shares of the asset manager's stock after acquiring an additional 8,361 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Affiliated Managers Group worth $9,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. HighTower Advisors LLC lifted its position in shares of Affiliated Managers Group by 15.5% in the 4th quarter. HighTower Advisors LLC now owns 2,618 shares of the asset manager's stock worth $484,000 after purchasing an additional 351 shares during the period. Natixis Advisors LLC lifted its holdings in Affiliated Managers Group by 7.9% during the fourth quarter. Natixis Advisors LLC now owns 13,875 shares of the asset manager's stock worth $2,566,000 after buying an additional 1,019 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Affiliated Managers Group by 1.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,112 shares of the asset manager's stock worth $1,315,000 after buying an additional 108 shares during the period. Xponance Inc. boosted its position in Affiliated Managers Group by 3.6% during the 4th quarter. Xponance Inc. now owns 3,759 shares of the asset manager's stock valued at $695,000 after acquiring an additional 132 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Affiliated Managers Group by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,675 shares of the asset manager's stock valued at $1,234,000 after acquiring an additional 103 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMG. TD Cowen dropped their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. 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 report on Friday, June 27th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Barrington Research cut their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $197.80.

Affiliated Managers Group Stock Performance

AMG stock traded up $1.67 during trading on Thursday, reaching $211.89. The company had a trading volume of 42,880 shares, compared to its average volume of 233,374. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 0.63 and a beta of 1.09. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $212.24. The firm has a 50-day simple moving average of $189.84 and a 200-day simple moving average of $177.07.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period in the previous year, the company earned $5.37 earnings per share. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

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.