Central Pacific Bank Trust Division Takes $624,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Central Pacific Bank Trust Division bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMGFree Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,763 shares of the asset manager’s stock, valued at approximately $624,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley increased its position in Affiliated Managers Group by 1.7% during the third quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock worth $322,537,000 after purchasing an additional 41,120 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $116,764,000 after purchasing an additional 6,265 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after buying an additional 92,913 shares during the period. Channing Capital Management LLC lifted its position in Affiliated Managers Group by 688.9% during the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after buying an additional 414,389 shares in the last quarter. Finally, Norges Bank purchased a new stake in Affiliated Managers Group during the fourth quarter worth approximately $66,223,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.3 %

Shares of Affiliated Managers Group stock traded up $0.39 during trading hours on Wednesday, hitting $155.11. 2,490 shares of the company’s stock traded hands, compared to its average volume of 262,309. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $169.65. The stock has a 50 day simple moving average of $157.19 and a 200-day simple moving average of $157.05. The company has a market cap of $4.94 billion, a PE ratio of 8.59, a PEG ratio of 0.50 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMGGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. The firm had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the prior year, the firm posted $4.18 earnings per share. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 21.72 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMG shares. Barrington Research reiterated an “outperform” rating and issued a $190.00 price target on shares of Affiliated Managers Group in a report on Tuesday, May 7th. TD Cowen boosted their price target on Affiliated Managers Group from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday.

Read Our Latest Analysis on AMG

Affiliated Managers Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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