2,780 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Purchased by Burney Co.

Burney Co. purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter, Holdings Channel reports. The fund purchased 2,780 shares of the asset manager’s stock, valued at approximately $466,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at about $353,000. Algebris UK Ltd purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $2,161,000. EMC Capital Management lifted its holdings in Affiliated Managers Group by 27.0% in the first quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 253 shares during the period. Comerica Bank boosted its position in Affiliated Managers Group by 9.7% in the 1st quarter. Comerica Bank now owns 16,510 shares of the asset manager’s stock worth $2,765,000 after purchasing an additional 1,458 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at approximately $879,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Down 5.2 %

AMG stock traded down $9.37 during midday trading on Friday, reaching $169.55. The stock had a trading volume of 216,110 shares, compared to its average volume of 292,694. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $189.81. The company’s fifty day simple moving average is $162.32 and its 200 day simple moving average is $159.81. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same period in the previous year, the business posted $4.45 earnings per share. Affiliated Managers Group’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.82 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Analyst Ratings Changes

AMG has been the topic of several analyst reports. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America increased their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barrington Research boosted their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, TD Cowen increased their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Affiliated Managers Group 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.