3,585 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,585 shares of the asset manager’s stock, valued at approximately $637,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Affiliated Managers Group by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,919 shares of the asset manager’s stock worth $11,710,000 after acquiring an additional 2,190 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Affiliated Managers Group by 201.5% in the 1st quarter. Tidal Investments LLC now owns 6,889 shares of the asset manager’s stock valued at $1,154,000 after buying an additional 4,604 shares during the period. Comerica Bank increased its position in shares of Affiliated Managers Group by 9.7% in the 1st quarter. Comerica Bank now owns 16,510 shares of the asset manager’s stock valued at $2,765,000 after buying an additional 1,458 shares in the last quarter. Virtu Financial LLC acquired a new stake in Affiliated Managers Group during the 1st quarter worth $353,000. Finally, First Hawaiian Bank bought a new position in Affiliated Managers Group during the second quarter worth about $644,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMG. TD Cowen downgraded 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. Barrington Research lowered their target price on 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $187.54 on Monday. Affiliated Managers Group, Inc. has a 52 week low of $134.61 and a 52 week high of $199.52. The stock’s 50 day moving average price is $185.98 and its two-hundred day moving average price is $172.22. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.69 and a beta of 1.18.

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 business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.08 EPS. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

About Affiliated Managers Group

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.