Assenagon Asset Management S.A. Increases Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Assenagon Asset Management S.A. lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 49.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,320 shares of the asset manager’s stock after purchasing an additional 31,042 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of Affiliated Managers Group worth $13,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pathstone Family Office LLC increased its position in shares of Affiliated Managers Group by 0.7% during the fourth quarter. Pathstone Family Office LLC now owns 10,729 shares of the asset manager’s stock worth $1,700,000 after purchasing an additional 74 shares in the last quarter. ETF Managers Group LLC increased its position in shares of Affiliated Managers Group by 1.5% during the first quarter. ETF Managers Group LLC now owns 5,121 shares of the asset manager’s stock worth $729,000 after purchasing an additional 76 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Affiliated Managers Group by 2.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,404 shares of the asset manager’s stock worth $539,000 after purchasing an additional 79 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Affiliated Managers Group by 62.2% during the fourth quarter. Parallel Advisors LLC now owns 219 shares of the asset manager’s stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Affiliated Managers Group by 5.0% during the fourth quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock worth $343,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

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Affiliated Managers Group Trading Down 0.3 %

NYSE AMG opened at $149.92 on Friday. The business’s 50 day moving average is $143.99 and its two-hundred day moving average is $151.25. Affiliated Managers Group, Inc. has a 12-month low of $108.12 and a 12-month high of $180.63. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 0.70 and a beta of 1.34.

Affiliated Managers Group (NYSE:AMG – Free Report) last released its earnings results on Monday, May 1st. The asset manager reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $0.03. Affiliated Managers Group had a return on equity of 19.63% and a net margin of 50.65%. The company had revenue of $517.40 million for the quarter, compared to analysts’ expectations of $539.25 million. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group, Inc. will post 18.93 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, May 10th. Affiliated Managers Group’s payout ratio is 0.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com began coverage on Affiliated Managers Group in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Bank of America boosted their price target on Affiliated Managers Group from $182.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, April 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.08.

Affiliated Managers Group Company Profile

(Free Report)

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.

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