Atria Investments Inc Buys Shares of 3,036 Affiliated Managers Group, Inc. (NYSE:AMG)

Atria Investments Inc acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,036 shares of the asset manager's stock, valued at approximately $540,000.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its position in Affiliated Managers Group by 31.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,486 shares of the asset manager's stock valued at $1,574,000 after buying an additional 2,276 shares during the period. O Shaughnessy Asset Management LLC increased its position in Affiliated Managers Group by 4.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,261 shares of the asset manager's stock valued at $546,000 after purchasing an additional 150 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Affiliated Managers Group by 2.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,367 shares of the asset manager's stock worth $4,582,000 after buying an additional 668 shares during the period. Ariel Investments LLC grew its position in Affiliated Managers Group by 6.8% during the 1st quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager's stock valued at $222,234,000 after purchasing an additional 84,313 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in Affiliated Managers Group during the 1st quarter valued at about $201,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

AMG traded up $2.27 on Wednesday, reaching $185.38. 144,284 shares of the company traded hands, compared to its average volume of 238,787. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.68 and a beta of 1.18. The stock's 50 day moving average price is $184.02 and its 200-day moving average price is $170.70. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the previous year, the company earned $4.08 earnings per share. Affiliated Managers Group's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group's payout ratio is 0.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMG. Bank of America boosted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. StockNews.com cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Barrington Research reduced their price target on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. TD Cowen downgraded 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, Deutsche Bank Aktiengesellschaft increased their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of "Hold" and an average price target of $196.50.

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.