Jefferies Financial Group Inc. Purchases Shares of 2,411 Affiliated Managers Group, Inc. (NYSE:AMG)

Jefferies Financial Group Inc. bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 2,411 shares of the asset manager's stock, valued at approximately $405,000.

A number of other large investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock worth $9,028,000 after purchasing an additional 8,361 shares during the period. Private Trust Co. NA lifted its position in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after buying an additional 83 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Affiliated Managers Group by 785.2% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after buying an additional 1,649 shares during the period. Dodge & Cox bought a new position in Affiliated Managers Group during the fourth quarter valued at $1,202,000. Finally, XTX Topco Ltd raised its stake in shares of Affiliated Managers Group by 189.9% in the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock valued at $2,469,000 after acquiring an additional 9,626 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMG shares. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday. 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. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their target price for the company from $214.00 to $255.00 in a research note on Monday. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.20.

Affiliated Managers Group Stock Down 2.1%

AMG traded down $4.59 on Thursday, reaching $209.30. 183,273 shares of the company traded hands, compared to its average volume of 186,207. The company has a market cap of $5.95 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.14. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $220.00. The firm has a fifty day simple moving average of $197.28 and a two-hundred day simple moving average of $179.26.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.03%. The company's revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.67 earnings per share. On average, equities analysts forecast 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 will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's payout ratio is presently 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.