Edgestream Partners L.P. Purchases New Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Edgestream Partners L.P. bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,634 shares of the asset manager's stock, valued at approximately $824,000.

A number of other large investors also recently modified their holdings of the stock. Ariel Investments LLC boosted its position in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock valued at $225,411,000 after buying an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager's stock worth $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management raised its stake in shares of Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager's stock valued at $37,574,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates lifted its holdings in shares of Affiliated Managers Group by 9.6% in the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager's stock valued at $36,659,000 after purchasing an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Affiliated Managers Group by 6.7% during the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager's stock worth $32,919,000 after purchasing an additional 11,565 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

NYSE AMG traded down $0.95 on Thursday, reaching $185.11. The stock had a trading volume of 233,166 shares, compared to its average volume of 235,627. Affiliated Managers Group, Inc. has a 1-year low of $135.22 and a 1-year high of $199.52. The company has a market cap of $5.60 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15. The firm has a fifty day moving average of $186.47 and a two-hundred day moving average of $172.76.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. Affiliated Managers Group's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.08 earnings per share. Research analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

AMG has been the topic of several research analyst reports. 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. Barrington Research reduced their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.