Guinness Asset Management LTD Increases Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Guinness Asset Management LTD grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 65.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,326 shares of the asset manager’s stock after acquiring an additional 1,319 shares during the quarter. Guinness Asset Management LTD’s holdings in Affiliated Managers Group were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ariel Investments LLC raised its holdings in Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after acquiring an additional 30,059 shares in the last quarter. Empirical Asset Management LLC lifted its position in Affiliated Managers Group by 10,522.8% in the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Affiliated Managers Group by 6.7% in the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after acquiring an additional 11,565 shares in the last quarter. Finally, Basswood Capital Management L.L.C. grew its holdings in shares of Affiliated Managers Group by 22.7% during the third quarter. Basswood Capital Management L.L.C. now owns 131,981 shares of the asset manager’s stock worth $23,466,000 after purchasing an additional 24,379 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $187.21 on Monday. The business has a 50 day simple moving average of $185.37 and a 200-day simple moving average of $179.12. Affiliated Managers Group, Inc. has a 12 month low of $147.13 and a 12 month high of $199.52. The stock has a market capitalization of $5.66 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.08 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 20.9 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMG shares. Barrington Research decreased their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group lowered shares of 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 report on Monday, January 6th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Hold” and a consensus price target of $195.40.

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.