Burney Co. Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Burney Co. purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,780 shares of the asset manager’s stock, valued at approximately $466,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Lindbrook Capital LLC boosted its holdings in shares of Affiliated Managers Group by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after buying an additional 72 shares during the last quarter. Denali Advisors LLC grew its position in shares of Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 206 shares during the period. GAMMA Investing LLC acquired a new position in shares of Affiliated Managers Group during the 4th quarter worth about $62,000. Quadrant Capital Group LLC raised its holdings in shares of Affiliated Managers Group by 45.6% in the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after purchasing an additional 185 shares during the period. Finally, Signaturefd LLC lifted its stake in Affiliated Managers Group by 97.1% in the 4th quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock valued at $132,000 after purchasing an additional 430 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMG. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday. Barrington Research increased their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. TD Cowen upped their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Bank of America raised their price objective 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

Affiliated Managers Group Stock Down 5.2 %

Shares of NYSE:AMG traded down $9.37 during midday trading on Friday, hitting $169.55. The stock had a trading volume of 216,110 shares, compared to its average volume of 292,694. The company’s 50-day moving average price is $162.32 and its 200-day moving average price is $159.81. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $189.81. The company has a market capitalization of $5.40 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share 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 firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same period in the prior year, the company earned $4.45 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 21.82 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued 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.