Affiliated Managers Group, Inc. (NYSE:AMG) is Algert Global LLC’s 7th Largest Position

Algert Global LLC lifted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,227 shares of the asset manager’s stock after acquiring an additional 5,973 shares during the quarter. Affiliated Managers Group accounts for about 0.5% of Algert Global LLC’s portfolio, making the stock its 7th largest position. Algert Global LLC owned 0.32% of Affiliated Managers Group worth $16,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Affiliated Managers Group during the second quarter worth about $1,293,000. Asset Management One Co. Ltd. increased its stake in shares of Affiliated Managers Group by 94.3% during the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after buying an additional 5,142 shares during the period. Foundry Partners LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $574,000. Finally, XTX Topco Ltd lifted its stake in Affiliated Managers Group by 178.9% in the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock worth $823,000 after acquiring an additional 3,380 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $187.60 on Friday. The stock has a market capitalization of $5.67 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a one year low of $131.34 and a one year high of $199.52. The business’s 50-day simple moving average is $184.41 and its 200-day simple moving average is $170.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data 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). The firm had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.08 EPS. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.