Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,623 shares of the asset manager’s stock after purchasing an additional 175 shares during the period. Blue Trust Inc.’s holdings in Affiliated Managers Group were worth $777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMG. Boston Partners grew its position in Affiliated Managers Group by 46.1% in the 4th quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after purchasing an additional 373,696 shares during the last quarter. Norges Bank acquired a new position in shares of Affiliated Managers Group during the fourth quarter valued at approximately $68,683,000. LSV Asset Management increased its stake in shares of Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after acquiring an additional 187,290 shares during the period. Millennium Management LLC increased its stake in shares of Affiliated Managers Group by 119.2% during the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock valued at $56,493,000 after acquiring an additional 166,144 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Affiliated Managers Group by 541.7% during the fourth quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager’s stock valued at $34,401,000 after acquiring an additional 157,042 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of research analyst reports. Cowen reiterated a “hold” rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Bank of America reduced their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Barrington Research reduced their target price on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, TD Cowen reduced their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $192.40.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $184.41 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $199.52. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.62 and a beta of 1.08. The company has a 50 day moving average price of $174.30 and a 200 day moving average price of $174.66.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.10. The company had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same quarter in the prior year, the firm earned $5.37 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.01 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.30%.

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.