Basswood Capital Management L.L.C. Acquires 24,379 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Basswood Capital Management L.L.C. lifted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 22.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,981 shares of the asset manager's stock after purchasing an additional 24,379 shares during the quarter. Basswood Capital Management L.L.C. owned 0.44% of Affiliated Managers Group worth $23,466,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth $30,000. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the second quarter worth $28,000. UMB Bank n.a. lifted its holdings in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after buying an additional 154 shares during the period. Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group in the third quarter valued at $47,000. Finally, Brooklyn Investment Group acquired a new position in Affiliated Managers Group in the third quarter valued at $49,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a report on Monday, November 11th. TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $196.50.

Affiliated Managers Group Stock Down 0.7 %

AMG traded down $1.39 during midday trading on Monday, hitting $186.15. The company had a trading volume of 86,553 shares, compared to its average volume of 236,084. The stock's 50 day moving average price is $185.98 and its 200 day moving average price is $172.30. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $135.22 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during 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%. The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.08 earnings per share. Research analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 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.