Point72 Hong Kong Ltd Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Point72 Hong Kong Ltd purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,210 shares of the asset manager’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Affiliated Managers Group in the 3rd quarter valued at $30,000. UMB Bank n.a. grew its position in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group during the second quarter worth $47,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Affiliated Managers Group during the third quarter valued at $47,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 1.1 %

AMG opened at $185.41 on Tuesday. Affiliated Managers Group, Inc. has a 1-year low of $135.22 and a 1-year high of $199.52. The stock has a market capitalization of $5.60 billion, a PE ratio of 12.09, a PEG ratio of 0.69 and a beta of 1.18. The firm has a 50-day moving average price of $185.98 and a two-hundred day moving average price of $172.30.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period in the prior year, the business earned $4.08 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research dropped their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Company Profile

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.