Basswood Capital Management L.L.C. Buys 24,379 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Basswood Capital Management L.L.C. increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 22.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,981 shares of the asset manager’s stock after buying an additional 24,379 shares during the quarter. Basswood Capital Management L.L.C. owned 0.44% of Affiliated Managers Group worth $23,466,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in Affiliated Managers Group during the second quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth about $30,000. UMB Bank n.a. increased its position in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Affiliated Managers Group during the 2nd quarter valued at about $47,000. Finally, Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group in the third quarter valued at about $47,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $187.54 on Monday. The stock has a market capitalization of $5.67 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. The company’s 50 day simple moving average is $185.98 and its 200-day simple moving average is $172.22. Affiliated Managers Group, Inc. has a one year low of $134.61 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.08 earnings per share. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Analyst Ratings Changes

AMG has been the subject of several recent analyst reports. TD Cowen lowered 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and a consensus target price 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.