Affiliated Managers Group, Inc. (NYSE:AMG) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,183 shares of the asset manager’s stock after purchasing an additional 413 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Affiliated Managers Group worth $3,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley raised its holdings in shares of Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after purchasing an additional 41,120 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of Affiliated Managers Group by 11.3% in the 3rd quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock valued at $154,863,000 after purchasing an additional 120,977 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Affiliated Managers Group by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock valued at $116,764,000 after purchasing an additional 6,265 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Affiliated Managers Group by 22.2% in the 4th quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after purchasing an additional 92,913 shares in the last quarter. Finally, Channing Capital Management LLC raised its holdings in shares of Affiliated Managers Group by 688.9% in the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after purchasing an additional 414,389 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Up 2.1 %

NYSE:AMG traded up $3.33 during midday trading on Friday, hitting $160.47. 157,127 shares of the company were exchanged, compared to its average volume of 294,702. The company has a fifty day simple moving average of $161.35 and a 200 day simple moving average of $152.89. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The company has a market capitalization of $5.11 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 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 firm had revenue of $499.90 million for the quarter, compared to analyst estimates of $524.53 million. During the same period last year, the business earned $4.18 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 21.63 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s payout ratio is currently 0.22%.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of analyst reports. TD Cowen reduced their price objective on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Barrington Research reiterated an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, May 7th.

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.