Victory Capital Management Inc. Boosts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Victory Capital Management Inc. raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,816 shares of the asset manager's stock after buying an additional 16,189 shares during the period. Victory Capital Management Inc. owned about 0.47% of Affiliated Managers Group worth $22,653,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMG. Versant Capital Management Inc lifted its position in shares of Affiliated Managers Group by 70.8% in 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 period. Private Trust Co. NA lifted its position in Affiliated Managers Group by 38.1% during the 1st 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 during the period. Rossby Financial LCC purchased a new position in Affiliated Managers Group during the 1st quarter valued at about $56,000. New Age Alpha Advisors LLC purchased a new position in Affiliated Managers Group in the fourth quarter worth about $70,000. Finally, TD Private Client Wealth LLC raised its holdings in Affiliated Managers Group by 16.5% in the first quarter. TD Private Client Wealth LLC now owns 938 shares of the asset manager's stock worth $158,000 after buying an additional 133 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $206.33 on Tuesday. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.63 and a beta of 1.09. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $212.01. The stock has a fifty day moving average price of $188.30 and a two-hundred day moving average price of $176.50.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating the consensus estimate of $5.10 by $0.10. The business had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same period last year, the business posted $5.37 EPS. On average, analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group's dividend payout ratio is 0.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMG. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Bank of America dropped their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen dropped their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.

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