Redwood Investment Management LLC Increases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Redwood Investment Management LLC increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,251 shares of the asset manager’s stock after purchasing an additional 359 shares during the period. Redwood Investment Management LLC’s holdings in Affiliated Managers Group were worth $1,631,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in Affiliated Managers Group during the 3rd quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in 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 acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group during the 2nd quarter worth approximately $47,000. Finally, Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group during the 3rd quarter worth approximately $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $185.11 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of 12.08, a PEG ratio of 0.68 and a beta of 1.15. Affiliated Managers Group, Inc. has a one year low of $135.22 and a one year high of $199.52. The firm has a fifty day moving average of $186.63 and a two-hundred day moving average of $172.85.

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 for 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 firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.08 EPS. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

AMG has been the subject of several analyst reports. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price 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, Barrington Research lowered 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.