Bank of Montreal Can Has $12.42 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of Montreal Can lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 328.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,457 shares of the asset manager’s stock after acquiring an additional 54,003 shares during the quarter. Bank of Montreal Can owned approximately 0.24% of Affiliated Managers Group worth $12,420,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co bought a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $1,293,000. Asset Management One Co. Ltd. lifted its holdings in shares of Affiliated Managers Group by 94.3% during the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after purchasing an additional 5,142 shares during the period. Foundry Partners LLC bought a new stake in shares of Affiliated Managers Group in the second quarter worth $574,000. XTX Topco Ltd increased its holdings in Affiliated Managers Group by 178.9% in 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 period. Finally, Los Angeles Capital Management LLC raised its position in Affiliated Managers Group by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock worth $9,164,000 after purchasing an additional 6,616 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barrington Research decreased their price objective on shares of 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. Finally, TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.50.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $187.54 on Monday. The business has a 50-day simple moving average of $185.98 and a 200 day simple moving average of $172.22. Affiliated Managers Group, Inc. has a one year low of $134.61 and a one year high of $199.52. The firm 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 (NYSE:AMG) last issued its 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). The firm had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.08 earnings per share. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a $0.01 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 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.