16,632 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 1st quarter, Holdings Channel.com reports. The fund purchased 16,632 shares of the asset manager’s stock, valued at approximately $2,795,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of Affiliated Managers Group by 785.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager’s stock valued at $315,000 after acquiring an additional 1,649 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Affiliated Managers Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after purchasing an additional 2,264 shares during the period. Dodge & Cox acquired a new stake in Affiliated Managers Group during the fourth quarter valued at approximately $1,202,000. Victory Capital Management Inc. boosted its holdings in Affiliated Managers Group by 4.8% during 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 in the last quarter. Finally, Channing Capital Management LLC grew its stake in shares of Affiliated Managers Group by 5.5% in the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock valued at $95,156,000 after purchasing an additional 26,654 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $189.41 on Thursday. The business has a fifty day moving average of $176.04 and a 200-day moving average of $174.69. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $199.52. The firm has a market cap of $5.38 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08.

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

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

AMG has been the subject of several analyst reports. Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. TD Cowen cut their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Barrington Research lowered their target price on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Bank of America dropped 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 research report on Thursday, April 3rd. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and a consensus target price of $192.40.

Affiliated Managers Group Company 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.