Amalgamated Bank Increases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Amalgamated Bank increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,363 shares of the asset manager’s stock after purchasing an additional 261 shares during the quarter. Amalgamated Bank’s holdings in Affiliated Managers Group were worth $2,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Empirical Asset Management LLC increased its holdings in shares of 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 worth $347,000 after buying an additional 188,568 shares during the period. Goodman Financial Corp bought a new position in Affiliated Managers Group during the 3rd quarter worth approximately $14,035,000. Barclays PLC grew its position in Affiliated Managers Group by 261.0% during the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock worth $13,600,000 after acquiring an additional 55,302 shares during the last quarter. Bank of Montreal Can increased its stake in Affiliated Managers Group by 328.2% in the 3rd quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock worth $12,420,000 after purchasing an additional 54,003 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position 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 valued at $17,793,000 after purchasing an additional 41,413 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMG. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research increased their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.40.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $171.09 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $147.13 and a 1 year high of $199.52. The stock has a market capitalization of $5.01 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.57 and a beta of 1.15. The company’s 50-day moving average is $180.26 and its 200 day moving average is $181.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

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.