Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 109.9% in the 3rd quarter, Holdings Channel reports. The fund owned 12,268 shares of the asset manager’s stock after purchasing an additional 6,424 shares during the period. Quest Partners LLC’s holdings in Affiliated Managers Group were worth $2,181,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Ensign Peak Advisors Inc grew its holdings in Affiliated Managers Group by 0.6% in the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after purchasing an additional 60 shares during the period. Blair William & Co. IL increased its holdings in shares of Affiliated Managers Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock worth $2,164,000 after buying an additional 69 shares during the last quarter. Covestor Ltd increased its holdings in shares of Affiliated Managers Group by 21.4% during the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after buying an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after buying an additional 90 shares during the period. Finally, Kendall Capital Management grew its position in Affiliated Managers Group by 2.5% during the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after acquiring an additional 100 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Down 0.7 %

AMG opened at $185.14 on Tuesday. The firm’s 50 day moving average is $183.24 and its 200-day moving average is $170.44. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results 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). The firm had revenue of $525.20 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $4.08 EPS. Equities analysts expect that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMG. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target 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. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research lowered their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.50.

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.