Investment Partners LTD. Invests $235,000 in Affiliated Managers Group, Inc. (NYSE:AMG)

Investment Partners LTD. bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, Holdings Channel reports. The firm bought 1,555 shares of the asset manager’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently modified their holdings of AMG. Quent Capital LLC raised its holdings in Affiliated Managers Group by 5.4% in the 4th quarter. Quent Capital LLC now owns 1,354 shares of the asset manager’s stock worth $205,000 after purchasing an additional 69 shares during the period. Lindbrook Capital LLC raised its holdings in Affiliated Managers Group by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after purchasing an additional 72 shares during the period. Blue Trust Inc. raised its holdings in Affiliated Managers Group by 17.1% in the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after purchasing an additional 90 shares during the period. Greenleaf Trust raised its holdings in Affiliated Managers Group by 6.7% in the 4th quarter. Greenleaf Trust now owns 1,822 shares of the asset manager’s stock worth $276,000 after purchasing an additional 115 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Affiliated Managers Group by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,719 shares of the asset manager’s stock worth $1,006,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.4 %

Shares of Affiliated Managers Group stock traded up $0.62 during mid-day trading on Friday, reaching $160.20. 134,487 shares of the stock traded hands, compared to its average volume of 244,682. The business has a 50-day moving average of $161.25 and a 200 day moving average of $147.99. The stock has a market capitalization of $5.20 billion, a PE ratio of 9.23, a PEG ratio of 0.56 and a beta of 1.31. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.83. The business had revenue of $502.70 million during the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $7.28 earnings per share. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. 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 presently 0.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMG. Barrington Research increased their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. TD Cowen began coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company.

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.