Thrivent Financial for Lutherans Has $1.25 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Thrivent Financial for Lutherans lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,004 shares of the asset manager’s stock after selling 695 shares during the period. Thrivent Financial for Lutherans’ holdings in Affiliated Managers Group were worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Diversified Trust Co acquired a new position in Affiliated Managers Group in the second quarter worth $1,293,000. Asset Management One Co. Ltd. raised its stake in shares of Affiliated Managers Group by 94.3% in the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after acquiring an additional 5,142 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Affiliated Managers Group during the second quarter worth approximately $574,000. XTX Topco Ltd grew its stake in shares of Affiliated Managers Group by 178.9% during the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock valued at $823,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Affiliated Managers Group by 12.7% in the second quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock valued at $9,164,000 after purchasing an additional 6,616 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $187.54 on Monday. The firm has a fifty day moving average of $185.98 and a two-hundred day moving average of $172.22. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $134.61 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the prior year, the company posted $4.08 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on AMG. Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research lowered their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $196.50.

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.