Wealthfront Advisers LLC Acquires New Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Wealthfront Advisers LLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 71,031 shares of the asset manager’s stock, valued at approximately $13,135,000. Wealthfront Advisers LLC owned approximately 0.23% of Affiliated Managers Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in shares of Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $30,000. Private Trust Co. NA increased its holdings in shares of Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock worth $40,000 after purchasing an additional 124 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after purchasing an additional 69 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $46,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 3.8 %

Shares of Affiliated Managers Group stock opened at $160.48 on Wednesday. The firm has a market capitalization of $4.70 billion, a PE ratio of 10.63, a P/E/G ratio of 0.57 and a beta of 1.18. 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, Inc. has a twelve month low of $147.13 and a twelve month high of $199.52. The firm’s 50-day moving average price is $176.73 and its 200 day moving average price is $180.59.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, sell-side analysts predict 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Wall Street Analysts Forecast Growth

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

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.