Envestnet Asset Management Inc. Grows Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Envestnet Asset Management Inc. grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 about 0.19% of Affiliated Managers Group worth $9,028,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Seascape Capital Management lifted its holdings in shares of Affiliated Managers Group by 3.4% in the 1st quarter. Seascape Capital Management now owns 16,740 shares of the asset manager’s stock valued at $2,813,000 after purchasing an additional 549 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Affiliated Managers Group by 10.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,508 shares of the asset manager’s stock worth $926,000 after purchasing an additional 506 shares during the last quarter. Private Trust Co. NA increased its stake in Affiliated Managers Group by 38.1% in the first 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 during the period. Rossby Financial LCC purchased a new position in shares of Affiliated Managers Group during the first quarter worth about $56,000. Finally, CWC Advisors LLC. lifted its position in Affiliated Managers Group by 47.9% during the 1st quarter. CWC Advisors LLC. now owns 16,023 shares of the asset manager’s stock worth $2,692,000 after acquiring an additional 5,190 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and upped their target price for the stock 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 research report on Wednesday, May 14th. Bank of America dropped their price objective 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. TD Cowen dropped their price target on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Finally, Barrington Research reduced their target price on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Hold” and a consensus target price of $197.80.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $206.33 on Tuesday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 15.68, a PEG ratio of 0.63 and a beta of 1.09. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $212.01. The stock has a 50-day simple moving average of $188.30 and a 200 day simple moving average of $176.50.

Affiliated Managers Group (NYSE:AMG) last issued its 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. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $5.37 earnings per share. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business 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 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.