Proficio Capital Partners LLC Acquires Shares of 23,670 Affiliated Managers Group, Inc. (NYSE:AMG)

Proficio Capital Partners LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 23,670 shares of the asset manager’s stock, valued at approximately $4,377,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMG. US Bancorp DE lifted its stake in Affiliated Managers Group by 4.7% in the third quarter. US Bancorp DE now owns 3,585 shares of the asset manager’s stock valued at $637,000 after buying an additional 160 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Affiliated Managers Group by 94.3% in the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock valued at $1,884,000 after buying an additional 5,142 shares during the last quarter. Forte Capital LLC ADV lifted its stake in Affiliated Managers Group by 21.4% in the third quarter. Forte Capital LLC ADV now owns 2,825 shares of the asset manager’s stock valued at $502,000 after buying an additional 498 shares during the last quarter. Seascape Capital Management lifted its stake in Affiliated Managers Group by 0.9% in the third quarter. Seascape Capital Management now owns 16,152 shares of the asset manager’s stock valued at $2,872,000 after buying an additional 151 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Affiliated Managers Group by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 18,711 shares of the asset manager’s stock valued at $3,327,000 after buying an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 3.8 %

Shares of AMG stock opened at $161.02 on Wednesday. The business’s fifty day moving average price is $179.91 and its 200 day moving average price is $181.09. Affiliated Managers Group, Inc. has a 1-year low of $147.13 and a 1-year high of $199.52. The firm has a market capitalization of $4.71 billion, a PE ratio of 10.66, a P/E/G ratio of 0.57 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 2.13.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Wall Street Analyst Weigh In

AMG has been the subject of several analyst reports. The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped 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. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research upped their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.40.

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.