PNC Financial Services Group Inc. Has $1.19 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

PNC Financial Services Group Inc. raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,854 shares of the asset manager’s stock after buying an additional 135 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Affiliated Managers Group were worth $1,189,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after buying an additional 72 shares during the period. GAMMA Investing LLC purchased a new stake in Affiliated Managers Group in the 4th quarter valued at $62,000. Quadrant Capital Group LLC raised its position in Affiliated Managers Group by 45.6% in the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after buying an additional 185 shares during the last quarter. Blue Trust Inc. raised its position in Affiliated Managers Group by 17.1% in the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after buying an additional 90 shares during the last quarter. Finally, Signaturefd LLC raised its position in Affiliated Managers Group by 97.1% in the 4th quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock valued at $132,000 after buying an additional 430 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMG has been the subject of a number of analyst reports. TD Cowen lowered their price target on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Barrington Research restated an “outperform” rating and issued a $190.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, May 7th.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $156.93 on Friday. The company has a market capitalization of $5.00 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 0.51 and a beta of 1.24. The business has a fifty day moving average price of $157.93 and a two-hundred day moving average price of $156.07. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $169.65.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter in the prior year, the company earned $4.18 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

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.