Highland Capital Management LLC Acquires Shares of 1,600 Affiliated Managers Group, Inc. (NYSE:AMG)

Highland Capital Management LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,600 shares of the asset manager's stock, valued at approximately $269,000.

Several other hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after acquiring an additional 62 shares during the period. Versant Capital Management Inc boosted its position 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 worth $30,000 after purchasing an additional 75 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Affiliated Managers Group in the 4th quarter valued at about $70,000. Finally, Parallel Advisors LLC lifted its stake in shares of Affiliated Managers Group by 6.8% in the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock valued at $197,000 after purchasing an additional 75 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AMG. Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $197.00 to $218.00 in a research note on Friday. TD Cowen reduced their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Finally, Bank of America cut their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $197.80.

Affiliated Managers Group Stock Up 2.8%

AMG opened at $197.61 on Monday. The firm has a market cap of $5.62 billion, a P/E ratio of 15.02, a PEG ratio of 0.66 and a beta of 1.08. The business's fifty day simple moving average is $177.59 and its 200 day simple moving average is $174.62. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The company had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same period in the prior year, the firm earned $5.37 EPS. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's payout ratio is 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.

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