Price T Rowe Associates Inc. MD Raises Stake in Affiliated Managers Group, Inc. $AMG

Key Points

• Price T Rowe Associates Inc. increased its stake in Affiliated Managers Group, Inc. by 2.5%, acquiring 5,685 additional shares and now owns 232,981 shares valued at approximately $39.15 million.
• Affiliated Managers Group reported earnings per share of $5.39, exceeding analysts' expectations of $5.26, though its revenue of $493.2 million fell short of the forecasted $506.46 million.
• Several brokerages have upgraded their ratings for Affiliated Managers Group, with TD Cowen raising its target price from $214 to $255, reflecting positive market sentiment towards the stock.

Price T Rowe Associates Inc. MD grew its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,981 shares of the asset manager's stock after acquiring an additional 5,685 shares during the period. Price T Rowe Associates Inc. MD owned about 0.81% of Affiliated Managers Group worth $39,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in shares of Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock valued at $536,000 after acquiring an additional 70 shares in the last quarter. Parallel Advisors LLC boosted its holdings 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 acquiring an additional 75 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after acquiring an additional 83 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Affiliated Managers Group by 4.8% in the first quarter. M&T Bank Corp now owns 1,956 shares of the asset manager's stock valued at $329,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Trading Up 0.7%

Shares of AMG opened at $227.99 on Thursday. The stock has a market cap of $6.48 billion, a P/E ratio of 16.64, a PEG ratio of 0.62 and a beta of 1.14. The company has a 50-day moving average of $208.10 and a two-hundred day moving average of $182.62. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $229.40.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.67 earnings per share. As a group, analysts forecast 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, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMG. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $214.00 to $255.00 in a report on Monday, August 4th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group upgraded shares of 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, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $215.20.

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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