Wealthfront Advisers LLC Takes $13.14 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Wealthfront Advisers LLC purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 71,031 shares of the asset manager’s stock, valued at approximately $13,135,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Empirical Asset Management LLC increased its position in shares of Affiliated Managers Group by 10,522.8% in the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after acquiring an additional 188,568 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Affiliated Managers Group in the fourth quarter worth $28,818,000. Goodman Financial Corp acquired a new position in Affiliated Managers Group during the 3rd quarter valued at $14,035,000. Fisher Asset Management LLC raised its stake in shares of Affiliated Managers Group by 84.3% in the 4th quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock valued at $28,886,000 after buying an additional 71,458 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Affiliated Managers Group by 261.0% in the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock worth $13,600,000 after purchasing an additional 55,302 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of research reports. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Barrington Research raised their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.40.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $160.48 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a twelve month low of $147.13 and a twelve month high of $199.52. The stock’s 50 day moving average is $176.73 and its 200-day moving average is $180.59. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

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.