Millennium Management LLC Grows Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Millennium Management LLC increased 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 Form 13F filing with the Securities and Exchange Commission. 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 approximately 1.01% of Affiliated Managers Group worth $56,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMG. Jacobs Levy Equity Management Inc. raised its stake in shares of Affiliated Managers Group by 1.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 171,215 shares of the asset manager's stock worth $31,661,000 after purchasing an additional 2,685 shares during the period. Focus Partners Wealth purchased a new stake in Affiliated Managers Group during the fourth quarter worth about $683,000. EP Wealth Advisors LLC raised its position in Affiliated Managers Group by 20.8% in the fourth quarter. EP Wealth Advisors LLC now owns 1,764 shares of the asset manager's stock worth $326,000 after acquiring an additional 304 shares during the period. Cetera Investment Advisers raised its position in Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after acquiring an additional 70 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Affiliated Managers Group by 271.5% in the fourth quarter. Captrust Financial Advisors now owns 13,794 shares of the asset manager's stock valued at $2,551,000 after acquiring an additional 10,081 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barrington Research decreased 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 note on Tuesday, April 8th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Bank of America decreased their price objective on 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, TD Cowen lowered their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of "Hold" and an average target price of $192.40.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG traded down $0.29 during trading on Thursday, hitting $175.79. 29,590 shares of the company were exchanged, compared to its average volume of 231,348. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $199.52. The stock has a 50 day moving average of $166.54 and a 200 day moving average of $175.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The company has a market cap of $5.00 billion, a PE ratio of 11.65, a P/E/G ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released 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. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The company had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period in the previous year, the company posted $5.37 EPS. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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