Horizon Kinetics Asset Management LLC Acquires Shares of 1,351 Affiliated Managers Group, Inc. (NYSE:AMG)

Horizon Kinetics Asset Management LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, Holdings Channel reports. The fund acquired 1,351 shares of the asset manager’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ariel Investments LLC grew its stake in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after acquiring an additional 115,808 shares during the period. Dimensional Fund Advisors LP grew its stake in Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after acquiring an additional 30,059 shares during the period. LSV Asset Management grew its stake in Affiliated Managers Group by 0.8% in the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after acquiring an additional 2,000 shares during the period. Raymond James & Associates grew its stake in Affiliated Managers Group by 9.6% in the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after acquiring an additional 20,514 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Affiliated Managers Group by 6.7% in the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after acquiring an additional 11,565 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMG. Barrington Research dropped their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Bank of America lifted their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Trading Up 0.0 %

Shares of Affiliated Managers Group stock opened at $189.25 on Wednesday. The firm has a market capitalization of $5.72 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. The business’s fifty day simple moving average is $185.08 and its 200 day simple moving average is $171.46. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.08 earnings per share. Analysts predict that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.01 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.26%.

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.