Kestra Investment Management LLC Makes New Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Kestra Investment Management LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,585 shares of the asset manager’s stock, valued at approximately $637,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Affiliated Managers Group in the third quarter valued at approximately $215,000. Edgestream Partners L.P. acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth approximately $824,000. Verition Fund Management LLC raised its stake in Affiliated Managers Group by 240.1% in the 3rd quarter. Verition Fund Management LLC now owns 6,289 shares of the asset manager’s stock valued at $1,118,000 after acquiring an additional 4,440 shares during the period. Captrust Financial Advisors raised its stake in Affiliated Managers Group by 91.4% in the 3rd quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager’s stock valued at $660,000 after acquiring an additional 1,773 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in Affiliated Managers Group by 1.6% during the 3rd quarter. Martingale Asset Management L P now owns 29,990 shares of the asset manager’s stock valued at $5,332,000 after purchasing an additional 458 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AMG. Deutsche Bank Aktiengesellschaft upped their price objective 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. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $187.54 on Monday. The firm has a 50-day moving average of $185.98 and a 200-day moving average of $172.22. Affiliated Managers Group, Inc. has a 52-week low of $134.61 and a 52-week high of $199.52. The stock has a market cap of $5.67 billion, a PE ratio of 12.23, a PEG ratio of 0.69 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (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 business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the firm earned $4.08 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. 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 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.