Goodman Financial Corp Buys New Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Goodman Financial Corp bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 78,937 shares of the asset manager's stock, valued at approximately $14,035,000. Affiliated Managers Group comprises about 3.1% of Goodman Financial Corp's investment portfolio, making the stock its 15th biggest position. Goodman Financial Corp owned approximately 0.26% of Affiliated Managers Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AMG. Lazard Asset Management LLC lifted its holdings in Affiliated Managers Group by 87.1% in the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager's stock worth $3,103,000 after buying an additional 8,628 shares during the period. Diversified Trust Co purchased a new stake in Affiliated Managers Group in the second quarter worth about $1,293,000. Asset Management One Co. Ltd. lifted its holdings in shares of Affiliated Managers Group by 94.3% during 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 purchasing 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. Finally, XTX Topco Ltd lifted its holdings in shares of Affiliated Managers Group by 178.9% during the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager's stock valued at $823,000 after purchasing an additional 3,380 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AMG. TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. StockNews.com lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Barrington Research lowered their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $196.50.

Affiliated Managers Group Price Performance

NYSE AMG traded up $0.06 during mid-day trading on Tuesday, reaching $189.25. The stock had a trading volume of 140,471 shares, compared to its average volume of 237,969. Affiliated Managers Group, Inc. has a 1 year low of $131.34 and a 1 year high of $199.52. The stock has a market cap of $5.72 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. The company has a fifty day moving average price of $185.08 and a 200 day moving average price of $171.46.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share 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 analysts' expectations of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. Affiliated Managers Group's revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.08 earnings per share. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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