Affiliated Managers Group, Inc. (NYSE:AMG) Shares Bought by Denali Advisors LLC

Denali Advisors LLC raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 429.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254 shares of the asset manager’s stock after buying an additional 206 shares during the period. Denali Advisors LLC’s holdings in Affiliated Managers Group were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Morgan Stanley increased its position in shares of Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after purchasing an additional 41,120 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Affiliated Managers Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock worth $116,764,000 after purchasing an additional 6,265 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after buying an additional 92,913 shares during the last quarter. Channing Capital Management LLC raised its stake in Affiliated Managers Group by 688.9% in the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after buying an additional 414,389 shares in the last quarter. Finally, Norges Bank purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $66,223,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of AMG traded down $1.30 during midday trading on Wednesday, reaching $156.71. 255,835 shares of the stock were exchanged, compared to its average volume of 262,986. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $169.65. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 0.51 and a beta of 1.22. The business’s 50-day moving average price is $157.57 and its 200 day moving average price is $156.90.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The business had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. During the same period in the previous year, the company posted $4.18 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen cut their target price on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Barrington Research reissued an “outperform” rating and set a $190.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, May 7th.

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.