Oppenheimer & Co. Inc. Acquires 2,246 Shares of Affiliated Managers Group, Inc. $AMG

Oppenheimer & Co. Inc. bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,246 shares of the asset manager’s stock, valued at approximately $821,000.

A number of other large investors have also made changes to their positions in AMG. Signaturefd LLC increased its stake in Affiliated Managers Group by 49.6% in the third quarter. Signaturefd LLC now owns 1,340 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 444 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in Affiliated Managers Group during the third quarter worth about $238,000. Fifth Third Wealth Advisors LLC boosted its stake in Affiliated Managers Group by 2.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 928 shares of the asset manager’s stock worth $339,000 after buying an additional 26 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Affiliated Managers Group in the 3rd quarter worth about $75,000. Finally, Crossmark Global Holdings Inc. boosted its stake in Affiliated Managers Group by 61.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,602 shares of the asset manager’s stock worth $8,629,000 after buying an additional 8,989 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.1%

NYSE AMG opened at $370.13 on Wednesday. Affiliated Managers Group, Inc. has a one year low of $246.11 and a one year high of $400.13. The company’s 50 day moving average price is $372.34 and its 200 day moving average price is $333.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.47 and a beta of 1.05.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMG shares. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. TD Cowen boosted their target price on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a report on Monday, October 12th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $438.25.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.