Cerity Partners LLC Acquires 2,767 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cerity Partners LLC lifted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 37.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,233 shares of the asset manager’s stock after buying an additional 2,767 shares during the period. Cerity Partners LLC’s holdings in Affiliated Managers Group were worth $1,820,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMG. Tidal Investments LLC raised its stake in shares of Affiliated Managers Group by 201.5% in the first quarter. Tidal Investments LLC now owns 6,889 shares of the asset manager’s stock valued at $1,154,000 after acquiring an additional 4,604 shares during the period. Comerica Bank lifted its stake in Affiliated Managers Group by 9.7% in the first quarter. Comerica Bank now owns 16,510 shares of the asset manager’s stock worth $2,765,000 after purchasing an additional 1,458 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $644,000. CWM LLC raised its holdings in shares of Affiliated Managers Group by 8.8% in the second quarter. CWM LLC now owns 2,720 shares of the asset manager’s stock worth $425,000 after buying an additional 220 shares during the period. Finally, Diversified Trust Co bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $1,293,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Trading Down 1.1 %

AMG stock opened at $185.41 on Tuesday. The firm has a 50-day moving average of $185.98 and a two-hundred day moving average of $172.30. Affiliated Managers Group, Inc. has a 12 month low of $135.22 and a 12 month high of $199.52. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.69 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 (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 analysts’ expectations of $521.87 million. During the same period last year, the firm posted $4.08 earnings per share. Affiliated Managers Group’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a $0.01 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 0.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price 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. Barrington Research lowered 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 note on Tuesday, November 5th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $196.50.

Affiliated Managers Group 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.