Assetmark Inc. Boosts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Assetmark Inc. grew its stake in Affiliated Managers Group, Inc. (NYSE:AMGFree Report) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,722 shares of the asset manager’s stock after purchasing an additional 4,084 shares during the quarter. Assetmark Inc. owned approximately 0.13% of Affiliated Managers Group worth $6,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMG. Morgan Stanley boosted its holdings in Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock worth $322,537,000 after buying an additional 41,120 shares during the last quarter. Ariel Investments LLC increased its position in shares of Affiliated Managers Group by 11.3% during the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after purchasing an additional 120,977 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Affiliated Managers Group by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock valued at $116,764,000 after purchasing an additional 6,265 shares during the last quarter. Channing Capital Management LLC lifted its holdings in Affiliated Managers Group by 688.9% in the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after purchasing an additional 414,389 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $66,223,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMG. TD Cowen lowered their price target on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Barrington Research reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, May 7th.

Read Our Latest Research Report on AMG

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $158.39 on Thursday. The company has a market capitalization of $5.05 billion, a P/E ratio of 8.79, a P/E/G ratio of 0.52 and a beta of 1.31. The company has a 50 day simple moving average of $161.44 and a 200-day simple moving average of $152.49. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $169.65.

Affiliated Managers Group (NYSE:AMGGet Free Report) last posted its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $0.16. The company had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter last year, the firm earned $4.18 earnings per share. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 21.75 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Affiliated Managers Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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