Point72 Asia Singapore Pte. Ltd. Grows Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 153.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,228 shares of the asset manager’s stock after buying an additional 5,587 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Affiliated Managers Group were worth $1,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMG. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group during the second quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $47,000. Finally, Prospera Private Wealth LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $187.54 on Monday. The business’s 50 day simple moving average is $185.98 and its 200-day simple moving average is $172.22. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 12 month low of $134.61 and a 12 month 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 in the prior year, the firm earned $4.08 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barrington Research lowered their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. 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 company 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.