Bayforest Capital Ltd Increases Stake in Affiliated Managers Group, Inc. $AMG

Bayforest Capital Ltd lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 632.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,710 shares of the asset manager’s stock after acquiring an additional 4,067 shares during the period. Bayforest Capital Ltd’s holdings in Affiliated Managers Group were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock valued at $9,028,000 after purchasing an additional 8,361 shares during the last quarter. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Affiliated Managers Group by 785.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager’s stock valued at $315,000 after purchasing an additional 1,649 shares during the last quarter. XTX Topco Ltd raised its position in shares of Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock valued at $2,469,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Goodman Financial Corp raised its position in shares of Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock valued at $13,578,000 after purchasing an additional 1,301 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $231.35 on Tuesday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. The company has a 50 day moving average price of $214.42 and a 200-day moving average price of $186.09. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $235.00.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.67 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 11th. Affiliated Managers Group’s payout ratio is 0.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMG. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Bank of America raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Finally, Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $242.40.

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.