First Hawaiian Bank Buys Shares of 4,121 Affiliated Managers Group, Inc. (NYSE:AMG)

First Hawaiian Bank acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,121 shares of the asset manager’s stock, valued at approximately $644,000.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new stake in Affiliated Managers Group in the 4th quarter valued at $260,000. Sequoia Financial Advisors LLC acquired a new position in Affiliated Managers Group in the 4th quarter valued at about $590,000. Impax Asset Management Group plc raised its holdings in Affiliated Managers Group by 55.4% in the 4th quarter. Impax Asset Management Group plc now owns 5,890 shares of the asset manager’s stock valued at $892,000 after acquiring an additional 2,100 shares during the period. Cerity Partners LLC grew its position in shares of Affiliated Managers Group by 253.5% in the fourth quarter. Cerity Partners LLC now owns 7,656 shares of the asset manager’s stock valued at $1,159,000 after purchasing an additional 5,490 shares during the last quarter. Finally, Sapient Capital LLC acquired a new stake in Affiliated Managers Group during the 4th quarter worth approximately $391,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America increased their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen raised their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Barrington Research boosted their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two 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 a consensus rating of “Moderate Buy” and an average target price of $199.20.

Affiliated Managers Group Price Performance

AMG stock traded down $8.66 during midday trading on Monday, reaching $160.89. The company had a trading volume of 290,482 shares, compared to its average volume of 266,835. The firm has a 50-day moving average price of $162.33 and a 200-day moving average price of $160.04. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81. The company has a market capitalization of $5.13 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same period last year, the company earned $4.45 EPS. Affiliated Managers Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 21.82 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.22%.

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.