XTX Topco Ltd Acquires 9,626 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• XTX Topco Ltd increased its stake in Affiliated Managers Group, Inc. by 189.9%, acquiring an additional 9,626 shares during the 1st quarter, bringing its total holdings to 14,695 shares worth approximately $2.47 million.
• Affiliated Managers Group recently announced a quarterly dividend of $0.01 per share, representing a 0.02% dividend yield with a payout ratio of 0.30%.
• Wall Street analysts have mixed ratings on AMG, with an average price target of $197.80, where three analysts recommend a buy while four others have a hold rating.

XTX Topco Ltd raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 189.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,695 shares of the asset manager's stock after buying an additional 9,626 shares during the period. XTX Topco Ltd owned 0.05% of Affiliated Managers Group worth $2,469,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Affiliated Managers Group by 18.4% during the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock worth $9,028,000 after buying an additional 8,361 shares during the last quarter. Private Trust Co. NA raised its stake in Affiliated Managers Group by 38.1% during 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 raised 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 last quarter. Dodge & Cox bought a new position in Affiliated Managers Group during the fourth quarter worth $1,202,000. Finally, American Century Companies Inc. raised its stake in Affiliated Managers Group by 531.1% during the fourth quarter. American Century Companies Inc. now owns 51,002 shares of the asset manager's stock worth $9,431,000 after buying an additional 42,921 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen lowered 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 note on Wednesday, April 9th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Bank of America reduced 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 report on Thursday, April 3rd. Finally, Cowen restated a "hold" rating on shares of Affiliated Managers Group in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $197.80.

Affiliated Managers Group Stock Down 0.6%

NYSE:AMG traded down $1.23 during trading hours on Wednesday, reaching $209.98. The company had a trading volume of 127,347 shares, compared to its average volume of 208,947. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.64 and a beta of 1.09. The business's 50-day simple moving average is $192.97 and its two-hundred day simple moving average is $178.16. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $216.32.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same period last year, the company earned $5.37 earnings per share. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company 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 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.30%.

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.