Affiliated Managers Group, Inc. (NYSE:AMG) Stock Position Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,752 shares of the asset manager’s stock after buying an additional 13,472 shares during the period. Fisher Asset Management LLC’s holdings in Affiliated Managers Group were worth $15,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Algert Global LLC grew its position in Affiliated Managers Group by 6.7% in the 3rd quarter. Algert Global LLC now owns 95,227 shares of the asset manager’s stock valued at $16,931,000 after buying an additional 5,973 shares in the last quarter. Cerity Partners LLC grew its position in Affiliated Managers Group by 37.1% in the 3rd quarter. Cerity Partners LLC now owns 10,233 shares of the asset manager’s stock valued at $1,820,000 after buying an additional 2,767 shares in the last quarter. Eagle Asset Management Inc. grew its position in Affiliated Managers Group by 20.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 12,428 shares of the asset manager’s stock valued at $2,299,000 after buying an additional 2,106 shares in the last quarter. Foundry Partners LLC grew its position in Affiliated Managers Group by 3.0% in the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock valued at $672,000 after buying an additional 110 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Affiliated Managers Group in the 3rd quarter valued at about $321,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.4 %

AMG stock opened at $188.46 on Thursday. Affiliated Managers Group, Inc. has a one year low of $131.81 and a one year high of $199.52. The firm has a market capitalization of $5.70 billion, a PE ratio of 12.31, a P/E/G ratio of 0.69 and a beta of 1.18. The firm has a 50-day moving average of $185.35 and a two-hundred day moving average of $171.68.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. During the same period in the prior year, the company posted $4.08 earnings per share. Affiliated Managers Group’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid 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 is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research cut their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.50.

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.