Sequoia Financial Advisors LLC Purchases New Shares in Affiliated Managers Group, Inc. (NYSE:AMG)

Sequoia Financial Advisors LLC purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,895 shares of the asset manager’s stock, valued at approximately $590,000.

Several other hedge funds also recently made changes to their positions in the company. Quent Capital LLC boosted its position in shares of Affiliated Managers Group by 5.4% during the fourth quarter. Quent Capital LLC now owns 1,354 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 69 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. Mariner LLC raised its stake in Affiliated Managers Group by 5.0% during the fourth quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock valued at $343,000 after buying an additional 103 shares during the last quarter. Lazard Asset Management LLC raised its stake 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 valued at $38,000 after buying an additional 119 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Affiliated Managers Group by 1.6% during the second quarter. Raymond James Trust N.A. now owns 8,110 shares of the asset manager’s stock valued at $1,216,000 after buying an additional 127 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Down 0.8 %

Shares of NYSE:AMG opened at $159.83 on Wednesday. The stock has a fifty day simple moving average of $160.59 and a two-hundred day simple moving average of $146.73. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.57 and a beta of 1.31. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. During the same quarter in the previous year, the business earned $7.28 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.

Analysts Set New Price Targets

AMG has been the subject of a number of recent research reports. TD Cowen initiated coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company. Barrington Research lifted their price objective on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th.

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.