Bank of America Corp DE Acquires 157,042 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of America Corp DE boosted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 541.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 186,030 shares of the asset manager’s stock after acquiring an additional 157,042 shares during the quarter. Bank of America Corp DE owned approximately 0.62% of Affiliated Managers Group worth $34,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMG. Jones Financial Companies Lllp raised its position in Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Private Trust Co. NA raised its position in Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 124 shares in the last quarter. UMB Bank n.a. raised its position in Affiliated Managers Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 69 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Affiliated Managers Group during the fourth quarter valued at approximately $70,000. Finally, Lingohr Asset Management GmbH bought a new position in Affiliated Managers Group during the fourth quarter valued at approximately $204,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of several recent research reports. Bank of America cut their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, TD Cowen dropped their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.40.

Affiliated Managers Group Trading Up 1.3%

NYSE:AMG opened at $183.38 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $199.52. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.57 and a beta of 1.06. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $165.43 and its 200-day moving average is $175.77.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. The business had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same quarter in the previous year, the firm posted $5.37 earnings per share. Equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Monday, May 19th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.30%.

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.