Affiliated Managers Group, Inc. $AMG Stock Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 20.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,576 shares of the asset manager’s stock after purchasing an additional 2,664 shares during the period. Kestra Advisory Services LLC’s holdings in Affiliated Managers Group were worth $5,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mather Group LLC. increased its stake in shares of Affiliated Managers Group by 335.3% in the 3rd quarter. Mather Group LLC. now owns 74 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 57 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $48,000. EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $61,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMG has been the topic of a number of research analyst reports. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. TD Cowen upped their price objective on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings downgraded shares of Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Finally, Barrington Research lifted their target price on shares of Affiliated Managers Group from $425.00 to $455.00 and gave the company an “outperform” rating in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.75.

Affiliated Managers Group Stock Down 1.8%

AMG stock opened at $394.55 on Friday. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.48 and a beta of 1.05. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.86. Affiliated Managers Group, Inc. has a 12 month low of $246.11 and a 12 month high of $408.07. The firm has a 50-day moving average of $374.16 and a two-hundred day moving average of $335.34.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating the consensus estimate of $8.79 by $0.71. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The firm had revenue of $595.20 million during the quarter, compared to analysts’ expectations of $655.08 million. During the same quarter last year, the firm earned $6.10 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 37.43 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.14%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.