Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 37.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,233 shares of the asset manager's stock after buying an additional 2,767 shares during the quarter. Cerity Partners LLC's holdings in Affiliated Managers Group were worth $1,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ensign Peak Advisors Inc grew its position in Affiliated Managers Group by 0.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager's stock valued at $1,547,000 after acquiring an additional 60 shares during the last quarter. Covestor Ltd grew its holdings in shares of Affiliated Managers Group by 21.4% in the third quarter. Covestor Ltd now owns 471 shares of the asset manager's stock worth $84,000 after purchasing an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager's stock worth $838,000 after buying an additional 90 shares during the period. Kendall Capital Management increased its stake in Affiliated Managers Group by 2.5% in the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager's stock worth $646,000 after buying an additional 100 shares during the period. Finally, Foundry Partners LLC increased its stake in Affiliated Managers Group by 3.0% in the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager's stock worth $672,000 after buying an additional 110 shares during the period. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Price Performance

NYSE AMG traded down $0.85 during midday trading on Tuesday, hitting $184.56. 142,920 shares of the company traded hands, compared to its average volume of 176,690. Affiliated Managers Group, Inc. has a 52 week low of $135.22 and a 52 week high of $199.52. The company's 50-day simple moving average is $186.12 and its 200-day simple moving average is $172.49. The company has a market cap of $5.58 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analysts' expectations of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 EPS. On average, research analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was 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 equities analysts have recently commented on the stock. TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research lowered their target price on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a 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 stock has an average rating of "Hold" and a consensus 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.