Cinctive Capital Management LP Takes $3.20 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Cinctive Capital Management LP acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,328 shares of the asset manager's stock, valued at approximately $3,204,000. Cinctive Capital Management LP owned about 0.06% of Affiliated Managers Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of Affiliated Managers Group by 79.5% in the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Private Trust Co. NA increased its holdings in Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after buying an additional 124 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Affiliated Managers Group in the 3rd quarter worth about $46,000. UMB Bank n.a. raised its position in Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after buying an additional 69 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Affiliated Managers Group during the 4th quarter valued at about $70,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Barrington Research lowered their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Bank of America cut their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group has a consensus rating of "Moderate Buy" and an average target price of $194.20.

Affiliated Managers Group Stock Performance

AMG traded up $3.94 during trading on Tuesday, hitting $149.49. The company's stock had a trading volume of 44,247 shares, compared to its average volume of 236,577. The business's 50 day simple moving average is $169.47 and its 200-day simple moving average is $179.84. The firm has a market cap of $4.37 billion, a PE ratio of 9.92, a P/E/G ratio of 0.57 and a beta of 1.09. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group's payout ratio is currently 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.