Lazard Asset Management LLC Buys 403 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Lazard Asset Management LLC raised its stake in Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 146.5% during the second quarter, HoldingsChannel.com reports. The fund owned 678 shares of the asset manager’s stock after purchasing an additional 403 shares during the quarter. Lazard Asset Management LLC’s holdings in Affiliated Managers Group were worth $79,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of Affiliated Managers Group in the 1st quarter worth $464,000. US Bancorp DE grew its stake in shares of Affiliated Managers Group by 7.9% in the 2nd quarter. US Bancorp DE now owns 3,062 shares of the asset manager’s stock worth $357,000 after buying an additional 223 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Affiliated Managers Group by 0.4% in the 1st quarter. Victory Capital Management Inc. now owns 362,125 shares of the asset manager’s stock worth $45,472,000 after buying an additional 1,555 shares in the last quarter. Quent Capital LLC grew its stake in shares of Affiliated Managers Group by 35.8% in the 1st quarter. Quent Capital LLC now owns 1,099 shares of the asset manager’s stock worth $155,000 after buying an additional 290 shares in the last quarter. Finally, Duality Advisers LP grew its stake in shares of Affiliated Managers Group by 30.3% in the 1st quarter. Duality Advisers LP now owns 8,334 shares of the asset manager’s stock worth $1,175,000 after buying an additional 1,940 shares in the last quarter. 96.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AMG shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $161.00 to $171.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. The Goldman Sachs Group initiated coverage on shares of Affiliated Managers Group in a research note on Monday. They set a “buy” rating and a $182.00 price target for the company. Barrington Research lifted their price target on shares of Affiliated Managers Group from $145.00 to $155.00 in a research note on Monday, November 7th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Finally, Credit Suisse Group lifted their price target on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the stock an “outperform” rating in a research note on Tuesday, November 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $175.64.

Affiliated Managers Group Price Performance

Shares of AMG opened at $156.74 on Thursday. Affiliated Managers Group, Inc. has a 1-year low of $108.12 and a 1-year high of $178.10. The company has a 50-day moving average of $127.98 and a 200 day moving average of $126.84. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.99 and a beta of 1.28.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.31%.

Affiliated Managers Group Profile

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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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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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