Bank of Montreal Can Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of Montreal Can purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,635 shares of the asset manager’s stock, valued at approximately $1,755,000.

Other large investors have also bought and sold shares of the company. BOKF NA acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at $36,000. Lazard Asset Management LLC boosted its holdings in Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Quarry LP boosted its holdings in Affiliated Managers Group by 1,193.3% during the first quarter. Quarry LP now owns 388 shares of the asset manager’s stock worth $55,000 after buying an additional 358 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Affiliated Managers Group by 54.0% in the 2nd quarter. National Bank of Canada FI now owns 402 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 141 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Affiliated Managers Group by 23.7% in the 1st quarter. Signaturefd LLC now owns 481 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 92 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

AMG stock opened at $129.61 on Friday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 4.38, a P/E/G ratio of 0.82 and a beta of 1.29. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $180.63. The business has a 50-day moving average of $129.54 and a 200-day moving average of $138.75.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 6th. The asset manager reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.34. Affiliated Managers Group had a return on equity of 17.65% and a net margin of 59.89%. The firm had revenue of $525.50 million during the quarter, compared to the consensus estimate of $509.44 million. During the same quarter in the prior year, the firm posted $4.21 EPS. The business’s revenue was down 9.2% on a year-over-year basis. Equities analysts expect that Affiliated Managers Group, Inc. will post 17.76 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, November 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

Analysts Set New Price Targets

AMG has been the topic of several analyst reports. Barrington Research cut their target price on shares of Affiliated Managers Group from $195.00 to $175.00 in a report on Wednesday, July 26th. Jefferies Financial Group decreased their target price on Affiliated Managers Group from $164.00 to $157.00 in a research note on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on Affiliated Managers Group from $150.00 to $148.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Finally, Bank of America dropped their target price on shares of Affiliated Managers Group from $181.00 to $176.00 in a report on Wednesday, October 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.60.

Affiliated Managers Group 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.