LGT Capital Partners LTD. Increases Position in Affiliated Managers Group, Inc. (NYSE:AMG)

LGT Capital Partners LTD. grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 393,330 shares of the asset manager’s stock after purchasing an additional 86,670 shares during the period. Affiliated Managers Group comprises approximately 1.8% of LGT Capital Partners LTD.’s holdings, making the stock its 19th largest holding. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $59,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley increased its stake in Affiliated Managers Group by 907.4% in the 4th quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after buying an additional 2,497,690 shares during the period. Envestnet Asset Management Inc. raised its position in Affiliated Managers Group by 4,914.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 755,310 shares of the asset manager’s stock valued at $1,960,000 after purchasing an additional 740,248 shares in the last quarter. Norges Bank purchased a new stake in shares of Affiliated Managers Group in the 4th quarter worth $74,919,000. Comerica Bank bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth $69,748,000. Finally, Deutsche Bank AG raised its holdings in shares of Affiliated Managers Group by 193.7% in the first quarter. Deutsche Bank AG now owns 312,399 shares of the asset manager’s stock valued at $44,492,000 after acquiring an additional 206,044 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AMG. TD Cowen started coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price on the stock. Barrington Research boosted their price objective on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus price target of $168.20.

Affiliated Managers Group Stock Up 0.7 %

Shares of AMG opened at $167.47 on Friday. The company has a 50 day moving average of $157.11 and a two-hundred day moving average of $143.65. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $167.90. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.83. The firm had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.28 earnings per share. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 21.42 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

Affiliated Managers Group Company 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.