Atlanta Consulting Group Advisors LLC Invests $241,000 in Affiliated Managers Group, Inc. (NYSE:AMG)

Atlanta Consulting Group Advisors LLC purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,353 shares of the asset manager’s stock, valued at approximately $241,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its stake in Affiliated Managers Group by 87.1% in the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after acquiring an additional 8,628 shares in the last quarter. Diversified Trust Co purchased a new position in Affiliated Managers Group during the 2nd quarter worth $1,293,000. Sei Investments Co. raised its position in Affiliated Managers Group by 40.8% during the 1st quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock valued at $8,069,000 after purchasing an additional 13,968 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $574,000. Finally, Asset Management One Co. Ltd. grew its position in shares of Affiliated Managers Group by 94.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after buying an additional 5,142 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.4 %

NYSE AMG opened at $186.42 on Monday. The firm’s fifty day simple moving average is $182.85 and its two-hundred day simple moving average is $170.26. The firm has a market capitalization of $5.64 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 12-month low of $131.34 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter last year, the firm earned $4.08 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s payout ratio is currently 0.26%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMG. Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research dropped their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and an average target price of $196.50.

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.