Gallacher Capital Management LLC Purchases New Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Gallacher Capital Management LLC bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,206 shares of the asset manager's stock, valued at approximately $203,000.

A number of other large investors also recently modified their holdings of AMG. HighTower Advisors LLC lifted its stake in shares of Affiliated Managers Group by 15.5% during the 4th quarter. HighTower Advisors LLC now owns 2,618 shares of the asset manager's stock valued at $484,000 after buying an additional 351 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Affiliated Managers Group by 1.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,112 shares of the asset manager's stock valued at $1,315,000 after acquiring an additional 108 shares during the last quarter. Xponance Inc. increased its holdings in Affiliated Managers Group by 3.6% in 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in 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 last quarter. Finally, American Century Companies Inc. increased its holdings in Affiliated Managers Group by 531.1% in the 4th quarter. American Century Companies Inc. now owns 51,002 shares of the asset manager's stock valued at $9,431,000 after acquiring an additional 42,921 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded up $4.89 during trading hours on Friday, reaching $216.06. The company's stock had a trading volume of 258,552 shares, compared to its average volume of 234,218. The firm has a 50 day moving average price of $191.10 and a 200-day moving average price of $177.48. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $216.20. The stock has a market cap of $6.14 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.65 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results 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. 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 the consensus estimate of $508.00 million. During the same period in the previous year, the firm posted $5.37 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

AMG has been the topic of a number of research 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. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Bank of America reduced their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. TD Cowen reduced their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Barrington Research reduced 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $197.80.

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.