Rhumbline Advisers Grows Stock Position in Affiliated Managers Group, Inc. $AMG

Rhumbline Advisers increased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.1% in the third quarter, HoldingsChannel reports. The fund owned 81,059 shares of the asset manager’s stock after purchasing an additional 2,458 shares during the period. Rhumbline Advisers’ holdings in Affiliated Managers Group were worth $19,327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Procyon Advisors LLC lifted its position in Affiliated Managers Group by 3.1% in the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 50 shares during the last quarter. Millstone Evans Group LLC increased its stake in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after buying an additional 52 shares during the period. Guinness Asset Management LTD raised its holdings in Affiliated Managers Group by 2.4% during the 2nd quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock valued at $629,000 after buying an additional 74 shares during the last quarter. GAMMA Investing LLC boosted its position in Affiliated Managers Group by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock valued at $318,000 after buying an additional 81 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Affiliated Managers Group by 51.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after buying an additional 84 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AMG. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the company a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Down 2.1%

Shares of NYSE:AMG opened at $323.03 on Wednesday. The firm has a market capitalization of $9.09 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a 50 day moving average price of $303.68 and a 200-day moving average price of $262.79. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $333.99.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.53 earnings per share. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.17%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.