Envestnet Asset Management Inc. Buys 8,361 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Envestnet Asset Management Inc. increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 18.4% during the 1st quarter, according to 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 period. Envestnet Asset Management Inc. owned about 0.19% of Affiliated Managers Group worth $9,028,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Affiliated Managers Group by 2.5% during the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock valued at $536,000 after acquiring an additional 70 shares during the period. Versant Capital Management Inc grew its position in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 75 shares in the last quarter. Private Trust Co. NA grew its position in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Affiliated Managers Group by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,675 shares of the asset manager’s stock worth $1,234,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 1.7%

Affiliated Managers Group stock opened at $206.33 on Tuesday. The business’s fifty day simple moving average is $188.30 and its two-hundred day simple moving average is $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 price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.63 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $508.00 million. During the same quarter in the prior year, the company posted $5.37 earnings per share. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

AMG has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen reiterated a “hold” rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Barrington Research decreased their price target 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 price target 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. Finally, Bank of America decreased their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four 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, the stock currently has an average rating of “Hold” and an average target price of $197.80.

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.