BlackRock Inc. Has $381.57 Million Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Posted by Defense World Staff on Mar 10th, 2023

BlackRock Inc. grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,411,411 shares of the asset manager’s stock after buying an additional 32,947 shares during the quarter. BlackRock Inc. owned 9.06% of Affiliated Managers Group worth $381,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMG. IFP Advisors Inc grew its holdings in shares of Affiliated Managers Group by 56.2% during the third quarter. IFP Advisors Inc now owns 439 shares of the asset manager’s stock valued at $32,000 after buying an additional 158 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group during the second quarter valued at about $38,000. Lazard Asset Management LLC lifted its position in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Affiliated Managers Group by 68.7% during the second quarter. Quadrant Capital Group LLC now owns 366 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 149 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Affiliated Managers Group by 22.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 81 shares in the last quarter. 95.31% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $152.24 on Friday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 5.78, a P/E/G ratio of 0.72 and a beta of 1.35. Affiliated Managers Group, Inc. has a 52 week low of $108.12 and a 52 week high of $180.63. The firm’s 50-day simple moving average is $164.86 and its two-hundred day simple moving average is $146.23.

Affiliated Managers Group (NYSE:AMG – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The asset manager reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.03 by $0.25. Affiliated Managers Group had a net margin of 49.18% and a return on equity of 21.29%. The company had revenue of $539.60 million for the quarter, compared to analyst estimates of $599.42 million. During the same quarter in the previous year, the firm posted $6.10 earnings per share. Analysts forecast that Affiliated Managers Group, Inc. will post 19.19 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.15%.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Affiliated Managers Group in a research report on Monday, November 21st. They set a “buy” rating and a $182.00 price target on the stock. Jefferies Financial Group raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $192.00 in a research report on Monday, November 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, February 6th. Barrington Research raised their price target on shares of Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. Finally, StockNews.com lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 28th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $185.21.

Affiliated Managers Group Profile

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.