Prospera Private Wealth LLC Makes New Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Prospera Private Wealth LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 265 shares of the asset manager’s stock, valued at approximately $47,000.

A number of other hedge funds have also made changes to their positions in AMG. Quest Partners LLC boosted its position in Affiliated Managers Group by 109.9% in the third quarter. Quest Partners LLC now owns 12,268 shares of the asset manager’s stock valued at $2,181,000 after buying an additional 6,424 shares in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Affiliated Managers Group in the 3rd quarter worth approximately $241,000. Natixis Advisors LLC grew its position in Affiliated Managers Group by 3.1% during the 3rd quarter. Natixis Advisors LLC now owns 12,856 shares of the asset manager’s stock worth $2,286,000 after acquiring an additional 383 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Affiliated Managers Group by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 90 shares in the last quarter. Finally, Huntington National Bank raised its position in Affiliated Managers Group by 7,575.0% in the 3rd quarter. Huntington National Bank now owns 307 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 303 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $186.59 on Friday. The firm has a 50 day simple moving average of $184.41 and a 200 day simple moving average of $170.81. Affiliated Managers Group, Inc. has a fifty-two week low of $131.34 and a fifty-two week high of $199.52. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the company earned $4.08 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts expect that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Barrington Research decreased their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $196.50.

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.