M&T Bank Corp Boosts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

M&T Bank Corp lifted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,956 shares of the asset manager’s stock after purchasing an additional 90 shares during the period. M&T Bank Corp’s holdings in Affiliated Managers Group were worth $329,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Affiliated Managers Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock valued at $593,935,000 after purchasing an additional 31,343 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Affiliated Managers Group by 79.1% in the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after buying an additional 187,290 shares in the last quarter. Norges Bank bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $68,683,000. Northern Trust Corp increased its position in shares of Affiliated Managers Group by 8.4% in the 4th quarter. Northern Trust Corp now owns 349,611 shares of the asset manager’s stock valued at $64,650,000 after acquiring an additional 26,990 shares during the period. Finally, Millennium Management LLC increased its holdings in Affiliated Managers Group by 119.2% in the 4th quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock worth $56,493,000 after buying an additional 166,144 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMG shares. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen reissued a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Bank of America cut their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. TD Cowen dropped their price target on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $197.80.

Affiliated Managers Group Stock Performance

AMG stock opened at $211.07 on Friday. The stock’s 50 day simple moving average is $187.69 and its 200 day simple moving average is $176.45. The company has a market cap of $6.00 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.62 and a beta of 1.09. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $212.01.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating the consensus estimate of $5.10 by $0.10. The business had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same quarter in the prior year, the business earned $5.37 earnings per share. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Monday, May 19th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.30%.

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.