Millennium Management LLC Buys 166,144 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Millennium Management LLC raised its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 119.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,497 shares of the asset manager's stock after acquiring an additional 166,144 shares during the quarter. Millennium Management LLC owned about 1.01% of Affiliated Managers Group worth $56,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Affiliated Managers Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock valued at $593,935,000 after acquiring an additional 31,343 shares during the last quarter. Boston Partners boosted its position in Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock valued at $218,975,000 after buying an additional 373,696 shares during the period. Channing Capital Management LLC boosted its position in Affiliated Managers Group by 5.5% during the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock valued at $95,156,000 after buying an additional 26,654 shares during the period. LSV Asset Management boosted its position in Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock valued at $78,405,000 after buying an additional 187,290 shares during the period. Finally, Norges Bank purchased a new stake in Affiliated Managers Group during the fourth quarter valued at about $68,683,000. Institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AMG. TD Cowen cut their price target 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. Barrington Research dropped their target price on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Bank of America dropped their target price 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 reiterated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $192.40.

Affiliated Managers Group Stock Down 0.5%

Shares of AMG stock traded down $0.91 during trading hours on Tuesday, hitting $181.41. 265,753 shares of the company's stock traded hands, compared to its average volume of 231,659. The stock's fifty day simple moving average is $165.84 and its two-hundred day simple moving average is $175.42. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $199.52. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.57 and a beta of 1.06. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61.

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, topping analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. The company had revenue of $496.60 million during the quarter, compared to analyst estimates of $508.00 million. During the same period in the previous year, the business earned $5.37 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.01 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group's payout ratio is currently 0.30%.

Affiliated Managers Group 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.