Crossmark Global Holdings Inc. Buys 8,989 Shares of Affiliated Managers Group, Inc. $AMG

Crossmark Global Holdings Inc. lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 61.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,602 shares of the asset manager’s stock after purchasing an additional 8,989 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Affiliated Managers Group were worth $8,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMG. GAMMA Investing LLC boosted its stake in Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after buying an additional 34 shares during the last quarter. Versant Capital Management Inc grew its holdings in Affiliated Managers Group by 7.0% in the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager’s stock valued at $200,000 after buying an additional 36 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Affiliated Managers Group by 1.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,262 shares of the asset manager’s stock worth $1,236,000 after acquiring an additional 37 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Affiliated Managers Group by 5.3% in the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after acquiring an additional 39 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $395.24 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $235.04 and a 52 week high of $397.06. The stock’s fifty day moving average is $368.85 and its two-hundred day moving average is $343.73. The company has a market capitalization of $10.22 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.50 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.39 EPS. Equities analysts expect that Affiliated Managers Group, Inc. will post 36.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMG shares. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research report on Friday, July 31st. TD Cowen lifted their target price on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.33.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.