Envestnet Asset Management Inc. Increases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Envestnet Asset Management Inc. raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 40.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,377 shares of the asset manager’s stock after buying an additional 3,879 shares during the period. Envestnet Asset Management Inc.’s holdings in Affiliated Managers Group were worth $1,560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMG. Parallel Advisors LLC boosted its position in Affiliated Managers Group by 86.8% during the 2nd quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock valued at $28,000 after buying an additional 112 shares during the period. Lazard Asset Management LLC boosted its position in Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after buying an additional 119 shares during the period. CX Institutional purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at $47,000. Canada Pension Plan Investment Board bought a new position in Affiliated Managers Group in the 1st quarter worth $113,000. Finally, Captrust Financial Advisors raised its holdings in Affiliated Managers Group by 18.4% in the 1st quarter. Captrust Financial Advisors now owns 978 shares of the asset manager’s stock worth $138,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the subject of several research reports. Credit Suisse Group upped their price objective on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. Barrington Research upped their price objective on shares of Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $161.00 to $171.00 and gave the stock a “buy” rating in a report on Tuesday, November 15th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $153.87 on Monday. The company has a 50-day moving average of $126.35 and a 200 day moving average of $126.26. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.98 and a beta of 1.28. Affiliated Managers Group, Inc. has a 1 year low of $108.12 and a 1 year high of $178.16.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.31%.

Affiliated Managers Group Profile

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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.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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