Envestnet Asset Management Inc. Has $14.89 Million Holdings in Affiliated Managers Group, Inc. $AMG

Envestnet Asset Management Inc. boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,449 shares of the asset manager’s stock after purchasing an additional 3,728 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of Affiliated Managers Group worth $14,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMG. Goldman Sachs Group Inc. boosted its stake in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after buying an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after acquiring an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Affiliated Managers Group during the 1st quarter valued at $1,947,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $323,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Affiliated Managers Group by 79.4% in the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMG shares. The Goldman Sachs Group upped their price objective on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Barrington Research increased their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Jefferies Financial Group restated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Trading Up 0.1%

Shares of NYSE AMG opened at $329.15 on Tuesday. The firm has a 50 day moving average price of $302.66 and a two-hundred day moving average price of $261.97. The stock has a market cap of $9.26 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $333.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.34.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. Affiliated Managers Group’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.53 earnings per share. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group’s payout ratio is currently 0.17%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.