GAMMA Investing LLC Buys New Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

GAMMA Investing LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 419 shares of the asset manager’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund boosted its position in Affiliated Managers Group by 38.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 13,048 shares of the asset manager’s stock valued at $1,976,000 after buying an additional 3,625 shares during the period. New York State Common Retirement Fund boosted its position in Affiliated Managers Group by 342.1% in the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock valued at $24,435,000 after buying an additional 124,871 shares during the period. Wedge Capital Management L L P NC boosted its position in Affiliated Managers Group by 13.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 6,811 shares of the asset manager’s stock valued at $1,031,000 after buying an additional 810 shares during the period. Signaturefd LLC boosted its position in Affiliated Managers Group by 97.1% in the 4th quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock valued at $132,000 after buying an additional 430 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Affiliated Managers Group by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $158.64 on Thursday. The company’s fifty day moving average price is $161.36 and its 200 day moving average price is $148.89. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65. The firm has a market capitalization of $5.15 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.55 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping the consensus estimate of $6.03 by $0.83. The firm had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $7.28 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

Analysts Set New Price Targets

Several equities analysts have commented on AMG shares. Barrington Research raised their price target on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. TD Cowen initiated coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company.

About Affiliated Managers Group

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.