Affiliated Managers Group, Inc. $AMG is Bruni J V & Co. Co.’s 3rd Largest Position

Bruni J V & Co. Co. cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,989 shares of the asset manager’s stock after selling 38,746 shares during the quarter. Affiliated Managers Group comprises approximately 6.1% of Bruni J V & Co. Co.’s portfolio, making the stock its 3rd biggest holding. Bruni J V & Co. Co. owned approximately 0.90% of Affiliated Managers Group worth $60,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the period. Root Financial Partners LLC purchased a new position in Affiliated Managers Group during the third quarter worth approximately $33,000. Meeder Asset Management Inc. acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $34,000. Hantz Financial Services Inc. grew its stake in shares of Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the period. Finally, Millstone Evans Group LLC grew its stake in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMG shares. Barrington Research lifted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $408.00 target price on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Down 10.8%

Shares of NYSE:AMG opened at $287.58 on Friday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The company has a 50 day moving average of $305.75 and a two-hundred day moving average of $264.54. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.53 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) 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.