Verition Fund Management LLC Purchases 4,440 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Verition Fund Management LLC increased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 240.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,289 shares of the asset manager’s stock after buying an additional 4,440 shares during the quarter. Verition Fund Management LLC’s holdings in Affiliated Managers Group were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group in the third quarter valued at about $30,000. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the 2nd quarter worth approximately $28,000. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares during the period. Prospera Private Wealth LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at approximately $47,000. Finally, Brooklyn Investment Group bought a new stake in shares of Affiliated Managers Group during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen downgraded shares of 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 report on Tuesday, November 5th. Finally, Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $196.50.

Affiliated Managers Group Stock Down 0.4 %

Affiliated Managers Group stock opened at $184.42 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $135.22 and a 52-week high of $199.52. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.68 and a beta of 1.15. The firm’s fifty day moving average is $186.80 and its 200 day moving average is $173.13.

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

Affiliated Managers Group Announces Dividend

The business 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. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

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.