Atria Investments Inc Takes $540,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Atria Investments Inc bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,036 shares of the asset manager’s stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its stake in shares of Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after acquiring an additional 115,808 shares in the last quarter. Victory Capital Management Inc. lifted its position in Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Affiliated Managers Group by 36.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock worth $29,731,000 after purchasing an additional 47,239 shares during the period. Algert Global LLC lifted its position in Affiliated Managers Group by 74.8% in the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock worth $13,944,000 after purchasing an additional 38,206 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Affiliated Managers Group by 59.1% in the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock worth $14,092,000 after purchasing an additional 33,500 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMG shares. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barrington Research lowered their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $183.15 on Wednesday. The stock has a 50 day simple moving average of $183.61 and a 200 day simple moving average of $170.60. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52. The firm has a market capitalization of $5.54 billion, a PE ratio of 11.95, a P/E/G ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the company earned $4.08 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Affiliated Managers Group Company Profile

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.