Vestcor Inc Takes $415,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Vestcor Inc acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,243 shares of the asset manager’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in Affiliated Managers Group by 15.5% in the fourth quarter. HighTower Advisors LLC now owns 2,618 shares of the asset manager’s stock valued at $484,000 after acquiring an additional 351 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $13,135,000. Channing Capital Management LLC grew its stake in shares of Affiliated Managers Group by 5.5% during the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock worth $95,156,000 after purchasing an additional 26,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Affiliated Managers Group by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,390 shares of the asset manager’s stock valued at $1,367,000 after buying an additional 382 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in Affiliated Managers Group by 18.9% during the fourth quarter. Edgestream Partners L.P. now owns 5,510 shares of the asset manager’s stock worth $1,019,000 after buying an additional 876 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $165.32 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. The stock’s 50-day moving average is $174.82 and its 200-day moving average is $180.30. Affiliated Managers Group, Inc. has a one year low of $147.13 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group’s payout ratio is 0.26%.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Barrington Research lifted their price objective on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.