KLP Kapitalforvaltning AS Buys Shares of 9,300 Affiliated Managers Group, Inc. (NYSE:AMG)

KLP Kapitalforvaltning AS purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 9,300 shares of the asset manager’s stock, valued at approximately $1,720,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMG. World Investment Advisors LLC bought a new position in Affiliated Managers Group in the third quarter worth approximately $2,592,000. Charles Schwab Investment Management Inc. raised its position in shares of Affiliated Managers Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after acquiring an additional 2,264 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth $543,000. Empirical Asset Management LLC boosted its position in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after purchasing an additional 188,568 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Affiliated Managers Group by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager’s stock valued at $21,937,000 after purchasing an additional 5,436 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $167.44 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $147.13 and a 52 week high of $199.52. The company has a 50 day moving average price of $172.65 and a 200 day moving average price of $180.19. 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 $4.90 billion, a P/E ratio of 11.09, a PEG ratio of 0.57 and a beta of 1.18.

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

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

AMG has been the subject of several analyst reports. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research increased their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $198.40.

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.