Moran Wealth Management LLC Invests $2.80 Million in Affiliated Managers Group, Inc. (NYSE:AMG)

Moran Wealth Management LLC acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,632 shares of the asset manager's stock, valued at approximately $2,795,000. Moran Wealth Management LLC owned 0.06% of Affiliated Managers Group at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMG. Allspring Global Investments Holdings LLC raised its stake in Affiliated Managers Group by 43.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,133 shares of the asset manager's stock worth $212,000 after buying an additional 344 shares during the period. Truist Financial Corp raised its stake in shares of Affiliated Managers Group by 15.7% in the 4th quarter. Truist Financial Corp now owns 2,699 shares of the asset manager's stock valued at $499,000 after purchasing an additional 366 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Affiliated Managers Group by 12.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the asset manager's stock valued at $1,479,000 after purchasing an additional 900 shares during the period. Amalgamated Bank raised its stake in shares of Affiliated Managers Group by 1.9% in the 4th quarter. Amalgamated Bank now owns 14,363 shares of the asset manager's stock valued at $2,656,000 after purchasing an additional 261 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Affiliated Managers Group by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager's stock valued at $1,137,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Trading Up 2.8%

Shares of NYSE AMG traded up $5.45 during mid-day trading on Friday, hitting $197.61. The company had a trading volume of 415,010 shares, compared to its average volume of 220,669. The company has a market capitalization of $5.62 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.66 and a beta of 1.08. The firm has a 50-day simple moving average of $177.59 and a two-hundred day simple moving average of $174.62. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52.

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 the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. The company had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. During the same quarter last year, the company earned $5.37 EPS. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Monday, May 19th. Affiliated Managers Group's payout ratio is currently 0.30%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barrington Research dropped their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday. TD Cowen dropped their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group raised 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 research note on Friday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of "Hold" and a consensus price target 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.