Amalgamated Bank Buys 261 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Amalgamated Bank raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 14,363 shares of the asset manager’s stock after buying an additional 261 shares during the period. Amalgamated Bank’s holdings in Affiliated Managers Group were worth $2,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. increased its stake in Affiliated Managers Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd grew its holdings in shares of Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after buying an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 90 shares in the last quarter. GAMMA Investing LLC raised its holdings in Affiliated Managers Group by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock worth $164,000 after acquiring an additional 94 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Affiliated Managers Group by 1.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock valued at $1,553,000 after acquiring an additional 100 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

NYSE AMG opened at $171.09 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.01 billion, a P/E ratio of 11.33, a PEG ratio of 0.57 and a beta of 1.15. The company has a 50-day moving average price of $180.26 and a 200-day moving average price of $181.03. Affiliated Managers Group, Inc. has a 52 week low of $147.13 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on AMG shares. The Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Barrington Research boosted their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.40.

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.