Weiss Asset Management LP Takes $2.13 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Weiss Asset Management LP purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, Holdings Channel reports. The firm purchased 11,980 shares of the asset manager’s stock, valued at approximately $2,130,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ariel Investments LLC grew its position in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after buying an additional 30,059 shares in the last quarter. LSV Asset Management boosted its stake in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after buying an additional 2,000 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after acquiring an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock worth $32,919,000 after purchasing an additional 11,565 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $184.42 on Friday. The stock has a market cap of $5.58 billion, a PE ratio of 12.03, a P/E/G ratio of 0.68 and a beta of 1.15. The firm has a 50-day moving average of $186.80 and a 200-day moving average of $173.13. Affiliated Managers Group, Inc. has a 52-week low of $135.22 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter last year, the business earned $4.08 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. As a group, analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal 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 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 of this dividend was Thursday, November 14th. Affiliated Managers Group’s payout ratio is 0.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMG shares. Barrington Research decreased 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 research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 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 company. According to data from MarketBeat.com, the company 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.