Truist Financial Corp Raises Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Truist Financial Corp raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,699 shares of the asset manager’s stock after purchasing an additional 366 shares during the period. Truist Financial Corp’s holdings in Affiliated Managers Group were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in Affiliated Managers Group by 146.2% during the fourth quarter. Blue Trust Inc. now owns 4,448 shares of the asset manager’s stock valued at $823,000 after purchasing an additional 2,641 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Affiliated Managers Group by 43.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,133 shares of the asset manager’s stock worth $212,000 after acquiring an additional 344 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Affiliated Managers Group by 1.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock worth $1,553,000 after acquiring an additional 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Affiliated Managers Group in the fourth quarter worth $2,136,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of Affiliated Managers Group by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 99,237 shares of the asset manager’s stock worth $18,351,000 after acquiring an additional 535 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMG shares. The Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $193.00 to $191.00 in a research note on Monday, January 6th. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Barrington Research raised their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.40.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $167.01 on Tuesday. Affiliated Managers Group, Inc. has a twelve month low of $147.13 and a twelve month high of $199.52. The firm has a market cap of $4.89 billion, a P/E ratio of 11.06, a PEG ratio of 0.57 and a beta of 1.15. The company has a 50 day moving average of $180.26 and a 200 day moving average of $181.12. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

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.