Focus Partners Wealth Acquires Shares of 3,695 Affiliated Managers Group, Inc. (NYSE:AMG)

Focus Partners Wealth bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,695 shares of the asset manager's stock, valued at approximately $683,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Affiliated Managers Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock valued at $593,935,000 after buying an additional 31,343 shares in the last quarter. Boston Partners raised its holdings in shares of Affiliated Managers Group by 46.1% during the 4th quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock valued at $218,975,000 after buying an additional 373,696 shares in the last quarter. Channing Capital Management LLC raised its holdings in shares of Affiliated Managers Group by 5.5% during the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock valued at $95,156,000 after buying an additional 26,654 shares in the last quarter. LSV Asset Management raised its holdings in shares of Affiliated Managers Group by 79.1% during the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock valued at $78,405,000 after buying an additional 187,290 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $68,683,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMG shares. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Barrington Research reduced their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Bank of America reduced their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, TD Cowen reduced their price target 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Affiliated Managers Group has a consensus rating of "Hold" and a consensus target price of $192.40.

Affiliated Managers Group Trading Down 0.9%

Shares of AMG stock traded down $1.56 during trading hours on Friday, reaching $173.94. The company's stock had a trading volume of 182,198 shares, compared to its average volume of 232,645. The stock has a market capitalization of $4.94 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.57 and a beta of 1.06. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The firm's fifty day simple moving average is $166.91 and its 200 day simple moving average is $175.30. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same period last year, the company earned $5.37 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid 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 is Monday, May 19th. Affiliated Managers Group's payout ratio is presently 0.30%.

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.