Bank of Nova Scotia Invests $2.07 Million in Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of Nova Scotia acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMGFree Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 13,700 shares of the asset manager’s stock, valued at approximately $2,074,000.

A number of other large investors have also bought and sold shares of the business. New York Life Investment Management LLC increased its holdings in Affiliated Managers Group by 113.8% during the 3rd quarter. New York Life Investment Management LLC now owns 3,797 shares of the asset manager’s stock worth $495,000 after purchasing an additional 2,021 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $2,543,000. Amalgamated Bank grew its holdings in shares of Affiliated Managers Group by 6.7% during the third quarter. Amalgamated Bank now owns 25,219 shares of the asset manager’s stock worth $3,287,000 after buying an additional 1,594 shares in the last quarter. Swiss National Bank raised its position in Affiliated Managers Group by 1.0% in the 3rd quarter. Swiss National Bank now owns 79,400 shares of the asset manager’s stock valued at $10,349,000 after buying an additional 800 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Affiliated Managers Group by 118.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,748 shares of the asset manager’s stock valued at $880,000 after acquiring an additional 3,661 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Down 1.2 %

AMG stock opened at $156.57 on Friday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 0.52 and a beta of 1.24. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $169.65. The business has a 50 day moving average price of $160.88 and a two-hundred day moving average price of $154.42.

Affiliated Managers Group (NYSE:AMGGet Free Report) last released its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, beating the consensus estimate of $5.21 by $0.16. The company had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter in the prior year, the firm posted $4.18 EPS. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 21.72 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.01 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.22%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMG shares. Barrington Research reaffirmed an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, May 7th. TD Cowen reduced their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a report on Tuesday, May 7th.

Get Our Latest Stock Analysis on Affiliated Managers Group

About Affiliated Managers Group

(Free Report)

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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