Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,727 shares of the asset manager’s stock after acquiring an additional 8,361 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Affiliated Managers Group worth $9,028,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMG. Vanguard Group Inc. increased its stake in shares of Affiliated Managers Group by 1.0% in 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 during the period. LSV Asset Management increased its stake in shares of Affiliated Managers Group by 79.1% in the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after purchasing an additional 187,290 shares during the period. Norges Bank acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at approximately $68,683,000. Northern Trust Corp increased its stake in shares of Affiliated Managers Group by 8.4% in the fourth quarter. Northern Trust Corp now owns 349,611 shares of the asset manager’s stock valued at $64,650,000 after purchasing an additional 26,990 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Affiliated Managers Group by 119.2% in the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock valued at $56,493,000 after purchasing an additional 166,144 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 1.7%

NYSE AMG opened at $206.33 on Tuesday. The firm has a 50-day moving average price of $188.30 and a two-hundred day moving average price of $176.50. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $212.01. The company has a market capitalization of $5.87 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.63 and a beta of 1.09.

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

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AMG. Bank of America decreased their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Barrington Research decreased their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. TD Cowen decreased their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $197.80.

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.