Russell Investments Group Ltd. Increases Stake in Affiliated Managers Group, Inc. $AMG

Key Points

• Russell Investments Group Ltd. increased its stake in Affiliated Managers Group, Inc. (AMG) by 5.4%, owning 59,236 shares valued at approximately $9,954,000 as of the latest SEC filing.
• Many hedge funds have recently made significant investments in AMG, including Nuveen LLC acquiring a stake valued at $16,060,000 in Q1.
• Affiliated Managers Group reported a quarterly EPS of $5.39, beating expectations but posted a 1.4% year-over-year revenue decline of $493.20 million.

Russell Investments Group Ltd. grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,236 shares of the asset manager's stock after acquiring an additional 3,032 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of Affiliated Managers Group worth $9,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC increased its position in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after purchasing an additional 102 shares during the last quarter. Versant Capital Management Inc increased 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 during the last quarter. Private Trust Co. NA increased its position in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after purchasing an additional 83 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Affiliated Managers Group during the 1st quarter worth about $56,000. Finally, Rossby Financial LCC acquired a new stake in shares of Affiliated Managers Group during the 1st quarter worth about $56,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Up 2.8%

Affiliated Managers Group stock traded up $6.2040 during midday trading on Friday, reaching $224.5540. 217,039 shares of the stock traded hands, compared to its average volume of 167,921. The company has a 50-day simple moving average of $205.54 and a two-hundred day simple moving average of $181.67. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $225.98. The firm has a market cap of $6.38 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same period last year, the business posted $4.67 EPS. Affiliated Managers Group's revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be paid 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 dividend payout ratio (DPR) is presently 0.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMG shares. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.