Franklin Resources Inc. Buys 15,746 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Franklin Resources Inc. lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 101,913 shares of the asset manager’s stock after buying an additional 15,746 shares during the quarter. Franklin Resources Inc.’s holdings in Affiliated Managers Group were worth $19,363,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ariel Investments LLC increased its holdings in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Goodman Financial Corp bought a new stake in Affiliated Managers Group in the 3rd quarter worth about $14,035,000. Victory Capital Management Inc. increased its holdings in Affiliated Managers Group by 150.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after buying an additional 59,659 shares in the last quarter. Barclays PLC lifted its position in Affiliated Managers Group by 261.0% during the third quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock valued at $13,600,000 after purchasing an additional 55,302 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Affiliated Managers Group by 328.2% during the 3rd quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock valued at $12,420,000 after buying an additional 54,003 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $179.54 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. The company’s 50-day moving average is $187.71 and its 200 day moving average is $174.64. Affiliated Managers Group, Inc. has a 1-year low of $145.36 and a 1-year high of $199.52.

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

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on AMG. Barrington Research reduced their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 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 company. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Hold” and a consensus target price of $196.50.

About Affiliated Managers Group

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.