Norges Bank Acquires Shares of 371,422 Affiliated Managers Group, Inc. (NYSE:AMG)

Norges Bank acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 371,422 shares of the asset manager's stock, valued at approximately $68,683,000. Norges Bank owned 1.23% of Affiliated Managers Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMG. Jones Financial Companies Lllp lifted its holdings in shares of Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after acquiring an additional 62 shares during the period. Private Trust Co. NA raised its stake in Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Affiliated Managers Group during the third quarter worth approximately $46,000. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after purchasing an additional 69 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Affiliated Managers Group by 68.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 826 shares of the asset manager's stock valued at $147,000 after buying an additional 336 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Down 1.5 %

Shares of AMG traded down $2.16 during midday trading on Tuesday, reaching $143.39. 256,277 shares of the company were exchanged, compared to its average volume of 237,503. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $199.52. The stock has a 50-day moving average price of $167.66 and a 200-day moving average price of $179.35. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 0.57 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group's payout ratio is 0.26%.

Analysts Set New Price Targets

AMG has been the topic of several research reports. Barrington Research cut their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday. The Goldman Sachs Group downgraded Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Bank of America reduced their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.20.

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.