Kestra Investment Management LLC Purchases 1,071 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Kestra Investment Management LLC lifted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 29.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,656 shares of the asset manager’s stock after purchasing an additional 1,071 shares during the quarter. Kestra Investment Management LLC’s holdings in Affiliated Managers Group were worth $861,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Empirical Asset Management LLC grew its holdings in Affiliated Managers Group by 10,522.8% during the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after acquiring an additional 188,568 shares during the last quarter. New York State Common Retirement Fund grew its holdings in 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 acquiring an additional 11,565 shares during the last quarter. Basswood Capital Management L.L.C. grew its holdings in Affiliated Managers Group by 22.7% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 131,981 shares of the asset manager’s stock worth $23,466,000 after acquiring an additional 24,379 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Affiliated Managers Group by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 113,191 shares of the asset manager’s stock worth $20,125,000 after acquiring an additional 13,784 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Affiliated Managers Group by 18.3% during the 3rd quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager’s stock worth $19,363,000 after acquiring an additional 15,746 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMG. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research upped their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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 research report 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 report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.40.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $171.14 on Wednesday. The firm’s 50 day simple moving average is $183.03 and its 200 day simple moving average is $180.90. Affiliated Managers Group, Inc. has a fifty-two week low of $147.13 and a fifty-two week high of $199.52. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.67 and a beta of 1.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 0.45.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.83 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid 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 Tuesday, February 18th. Affiliated Managers Group’s payout ratio is 0.26%.

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.