Allspring Global Investments Holdings LLC grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 689.9% during the third quarter, Holdings Channel.com reports. The firm owned 5,150 shares of the asset manager’s stock after acquiring an additional 4,498 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Affiliated Managers Group were worth $576,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AMG. Parallel Advisors LLC increased its holdings in Affiliated Managers Group by 86.8% during the second quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock worth $28,000 after buying an additional 112 shares during the last quarter. Fifth Third Bancorp increased its holdings in Affiliated Managers Group by 57.7% during the second quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock worth $30,000 after buying an additional 94 shares during the last quarter. Truvestments Capital LLC acquired a new position in Affiliated Managers Group during the second quarter worth $38,000. Lazard Asset Management LLC increased its holdings in Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Affiliated Managers Group by 68.7% during the second quarter. Quadrant Capital Group LLC now owns 366 shares of the asset manager’s stock worth $43,000 after buying an additional 149 shares during the last quarter. 95.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AMG. Credit Suisse Group boosted their target price on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. 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 objective for the company. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $192.00 in a research report on Monday, November 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Affiliated Managers Group from $191.00 to $187.00 in a research report on Wednesday, January 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Buy” and an average target price of $178.79.
Affiliated Managers Group Stock Performance
Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its earnings results on Monday, November 7th. The asset manager reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.29. The company had revenue of $578.60 million during the quarter, compared to analysts’ expectations of $553.29 million. Affiliated Managers Group had a net margin of 22.02% and a return on equity of 21.15%. Equities research analysts predict that Affiliated Managers Group, Inc. will post 19.68 earnings per share for the current fiscal year.
Affiliated Managers Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.31%.
Affiliated Managers Group Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.
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