Alaska Permanent Fund Corp Boosts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Alaska Permanent Fund Corp boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,931 shares of the asset manager’s stock after buying an additional 231 shares during the period. Alaska Permanent Fund Corp’s holdings in Affiliated Managers Group were worth $2,412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Affiliated Managers Group by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock worth $322,537,000 after buying an additional 41,120 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Affiliated Managers Group by 11.3% during the 3rd quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after buying an additional 120,977 shares during the last quarter. LGT Capital Partners LTD. raised its stake in shares of Affiliated Managers Group by 28.3% during the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock worth $59,558,000 after buying an additional 86,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Affiliated Managers Group by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,027 shares of the asset manager’s stock worth $45,231,000 after buying an additional 2,824 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Affiliated Managers Group by 65.7% during the 3rd quarter. Invesco Ltd. now owns 263,664 shares of the asset manager’s stock worth $34,366,000 after buying an additional 104,507 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMG. Barrington Research boosted their target price on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. TD Cowen initiated coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded down $3.94 during mid-day trading on Thursday, reaching $158.13. 27,747 shares of the company were exchanged, compared to its average volume of 229,176. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The company has a market capitalization of $5.13 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.56 and a beta of 1.31. The business’s 50 day simple moving average is $161.05 and its 200 day simple moving average is $147.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $502.70 million during the quarter, compared to the consensus estimate of $524.98 million. During the same quarter last year, the company earned $7.28 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, analysts forecast that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s payout ratio is currently 0.23%.

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.