Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Amalgamated Bank

Amalgamated Bank boosted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,183 shares of the asset manager’s stock after purchasing an additional 413 shares during the period. Amalgamated Bank’s holdings in Affiliated Managers Group were worth $3,882,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in Affiliated Managers Group by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after purchasing an additional 41,120 shares in the last quarter. Ariel Investments LLC grew its holdings in 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 valued at $154,863,000 after purchasing an additional 120,977 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Affiliated Managers Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock valued at $116,764,000 after purchasing an additional 6,265 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Affiliated Managers Group by 22.2% during the 4th quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after acquiring an additional 92,913 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in Affiliated Managers Group by 688.9% during the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after acquiring an additional 414,389 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMG shares. TD Cowen reduced their price objective on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Barrington Research reiterated an “outperform” rating and set a $190.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, May 7th.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock traded up $3.33 during trading hours on Friday, reaching $160.47. The company’s stock had a trading volume of 157,127 shares, compared to its average volume of 294,702. The stock has a market cap of $5.11 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31. The company’s 50 day simple moving average is $161.35 and its 200 day simple moving average is $152.89. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $169.65.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16. The firm had revenue of $499.90 million for the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. During the same period last year, the firm posted $4.18 EPS. On average, sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.63 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.22%.

About Affiliated Managers Group

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.