Dorsey & Whitney Trust CO LLC Makes New $202,000 Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Dorsey & Whitney Trust CO LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,206 shares of the asset manager’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMG. Norges Bank purchased a new position in Affiliated Managers Group in the fourth quarter valued at about $66,223,000. Channing Capital Management LLC boosted its stake in Affiliated Managers Group by 688.9% in the fourth 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 during the last quarter. New York State Common Retirement Fund boosted its stake in 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 valued at $24,435,000 after acquiring an additional 124,871 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 acquiring an additional 110,646 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after acquiring an additional 92,913 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Trading Down 0.9 %

Shares of AMG stock traded down $1.54 during trading on Friday, reaching $167.94. 181,731 shares of the company’s stock traded hands, compared to its average volume of 344,061. The company has a market capitalization of $5.35 billion, a P/E ratio of 9.32, a PEG ratio of 0.59 and a beta of 1.22. The firm’s 50-day moving average is $158.74 and its 200 day moving average is $157.86. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $174.74.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The business had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same period in the prior year, the company posted $4.18 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.59 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Wall Street Analyst Weigh In

AMG has been the topic of a number of recent research reports. Barrington Research restated an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a research note on Thursday, July 11th. TD Cowen upped their price target on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, July 8th.

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.