Barclays PLC Boosts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Barclays PLC increased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 261.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,488 shares of the asset manager’s stock after purchasing an additional 55,302 shares during the quarter. Barclays PLC owned approximately 0.25% of Affiliated Managers Group worth $13,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ariel Investments LLC lifted its position 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 valued at $225,411,000 after buying an additional 115,808 shares during the period. Goodman Financial Corp bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth about $14,035,000. Victory Capital Management Inc. lifted its position in Affiliated Managers Group by 150.1% during the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after acquiring an additional 59,659 shares during the period. Bank of Montreal Can boosted its stake in Affiliated Managers Group by 328.2% during the third quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock worth $12,420,000 after acquiring an additional 54,003 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Affiliated Managers Group by 70.6% in the third quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager’s stock worth $17,793,000 after purchasing an additional 41,413 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Down 1.2 %

Shares of NYSE AMG opened at $186.59 on Monday. The firm has a market cap of $5.64 billion, a P/E ratio of 12.17, a PEG ratio of 0.69 and a beta of 1.15. Affiliated Managers Group, Inc. has a twelve month low of $145.36 and a twelve month high of $199.52. The company has a 50 day moving average of $187.62 and a 200 day moving average of $174.21.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter in the prior year, the firm earned $4.08 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s payout ratio is presently 0.26%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMG. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research dropped their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Hold” and a consensus 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.