Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,326 shares of the asset manager's stock after purchasing an additional 16,001 shares during the quarter. Bridgewater Associates LP owned approximately 0.27% of Affiliated Managers Group worth $14,104,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Diversified Trust Co purchased a new position in Affiliated Managers Group in the 2nd quarter valued at about $1,293,000. Asset Management One Co. Ltd. raised its position in shares of Affiliated Managers Group by 94.3% in the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager's stock valued at $1,884,000 after buying an additional 5,142 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $574,000. XTX Topco Ltd boosted its position in Affiliated Managers Group by 178.9% during the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager's stock worth $823,000 after acquiring an additional 3,380 shares during the last quarter. Finally, Invst LLC acquired a new position in Affiliated Managers Group in the 1st quarter valued at $813,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barrington Research decreased their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group has a consensus rating of "Hold" and an average target price of $196.50.

Affiliated Managers Group Price Performance

NYSE AMG traded down $0.79 during mid-day trading on Thursday, hitting $188.46. The company's stock had a trading volume of 109,859 shares, compared to its average volume of 237,412. The firm has a market capitalization of $5.70 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52-week low of $131.81 and a 52-week high of $199.52. The stock's fifty day simple moving average is $185.61 and its two-hundred day simple moving average is $171.80.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its 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). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business had revenue of $525.20 million during the quarter, compared to analysts' expectations of $521.87 million. During the same period in the prior year, the business posted $4.08 EPS. The business's revenue was up 1.7% on a year-over-year basis. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

About Affiliated Managers Group

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.