Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,633 shares of the asset manager’s stock after buying an additional 793 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Affiliated Managers Group were worth $1,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMG. Ariel Investments LLC raised its holdings in shares of Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock valued at $154,863,000 after acquiring an additional 120,977 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Affiliated Managers Group by 294.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock valued at $22,447,000 after purchasing an additional 110,646 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Affiliated Managers Group by 65.7% in the 3rd quarter. Invesco Ltd. now owns 263,664 shares of the asset manager’s stock valued at $34,366,000 after purchasing an additional 104,507 shares in the last quarter. LGT Capital Partners LTD. lifted its position in shares of Affiliated Managers Group by 28.3% in the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock worth $59,558,000 after purchasing an additional 86,670 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Affiliated Managers Group by 1.7% during the third quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after purchasing an additional 41,120 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $160.20 on Friday. The stock has a market cap of $5.20 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. The stock has a 50-day moving average of $161.31 and a two-hundred day moving average of $148.20. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $169.65.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, beating the consensus estimate of $6.03 by $0.83. The firm had revenue of $502.70 million during the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $7.28 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.23%.

About Affiliated Managers Group

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.