Kennondale Capital Management LLC Makes New $905,000 Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Kennondale Capital Management LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,892 shares of the asset manager’s stock, valued at approximately $905,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Empirical Asset Management LLC increased its stake in Affiliated Managers Group by 10,522.8% during 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at $28,818,000. Goodman Financial Corp acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at $14,035,000. Fisher Asset Management LLC grew its stake in shares of Affiliated Managers Group by 84.3% in the fourth 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, Wealthfront Advisers LLC acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at $13,135,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMG shares. Barrington Research lifted their price objective on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.40.

Affiliated Managers Group Trading Up 1.3 %

NYSE:AMG opened at $165.32 on Tuesday. The firm has a market cap of $4.84 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. The stock has a fifty day moving average price of $174.82 and a 200 day moving average price of $180.30. Affiliated Managers Group, Inc. has a 12-month low of $147.13 and a 12-month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last released its earnings results 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 anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, February 18th. 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.