13,700 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Acquired by Bank of Nova Scotia

Bank of Nova Scotia purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMGFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,700 shares of the asset manager’s stock, valued at approximately $2,074,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $66,223,000. Channing Capital Management LLC lifted its position in Affiliated Managers Group by 688.9% in the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after acquiring an additional 414,389 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Affiliated Managers Group by 342.1% in the fourth quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after purchasing an additional 124,871 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after purchasing an additional 120,977 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Affiliated Managers Group by 294.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock valued at $22,447,000 after purchasing an additional 110,646 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMG shares. Barrington Research reiterated an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a report on Tuesday, May 7th. TD Cowen reduced their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th.

Check Out Our Latest Stock Report on AMG

Affiliated Managers Group Trading Down 1.2 %

Shares of AMG opened at $156.57 on Friday. The stock has a 50 day moving average of $160.88 and a 200 day moving average of $154.42. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.52 and a beta of 1.24. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65.

Affiliated Managers Group (NYSE:AMGGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter in the prior year, the company earned $4.18 EPS. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is 0.22%.

Affiliated Managers Group 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.

Featured Articles

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMGFree Report).

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

Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.