QRG Capital Management Inc. Invests $220,000 in Affiliated Managers Group, Inc. (NYSE:AMG)

QRG Capital Management Inc. bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 1,189 shares of the asset manager’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New York State Common Retirement Fund lifted its position in shares of Affiliated Managers Group by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 192,524 shares of the asset manager’s stock worth $35,602,000 after purchasing an additional 7,377 shares during the period. Empirical Asset Management LLC increased its stake in shares of Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after acquiring an additional 188,568 shares in the last quarter. Basswood Capital Management L.L.C. increased its stake in shares of Affiliated Managers Group by 22.7% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 131,981 shares of the asset manager’s stock worth $23,466,000 after acquiring an additional 24,379 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Affiliated Managers Group by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 113,191 shares of the asset manager’s stock worth $20,125,000 after acquiring an additional 13,784 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Affiliated Managers Group by 18.3% in the 3rd quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager’s stock worth $19,363,000 after acquiring an additional 15,746 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Affiliated Managers Group Stock Down 1.3 %

NYSE:AMG opened at $159.60 on Friday. The firm has a market cap of $4.67 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. Affiliated Managers Group, Inc. has a fifty-two week low of $147.13 and a fifty-two week high of $199.52. The firm has a 50-day simple moving average of $178.38 and a two-hundred day simple moving average of $180.77.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping 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%. Analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 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.