Brooklyn Investment Group Takes $49,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Brooklyn Investment Group purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 275 shares of the asset manager’s stock, valued at approximately $49,000.

Several other hedge funds also recently made changes to their positions in the stock. Ensign Peak Advisors Inc grew its position in shares of Affiliated Managers Group by 0.6% in the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after purchasing an additional 60 shares in the last quarter. Covestor Ltd boosted its stake in Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after buying an additional 83 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after buying an additional 90 shares during the period. Kendall Capital Management boosted its stake in Affiliated Managers Group by 2.5% during the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after buying an additional 100 shares during the period. Finally, Foundry Partners LLC boosted its stake in Affiliated Managers Group by 3.0% during the third quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock valued at $672,000 after buying an additional 110 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Down 0.3 %

Shares of AMG stock opened at $187.98 on Friday. The business has a 50-day moving average price of $185.78 and a two-hundred day moving average price of $171.91. Affiliated Managers Group, Inc. has a 12-month low of $134.61 and a 12-month high of $199.52. The firm has a market cap of $5.68 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18.

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

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Wall Street Analysts Forecast Growth

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

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.