Kennondale Capital Management LLC Acquires New Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Kennondale Capital Management LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,892 shares of the asset manager's stock, valued at approximately $905,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new stake in Affiliated Managers Group in the third quarter valued at approximately $2,592,000. Charles Schwab Investment Management Inc. raised its stake in shares of Affiliated Managers Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager's stock worth $61,228,000 after purchasing an additional 2,264 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Affiliated Managers Group during the third quarter worth approximately $543,000. Empirical Asset Management LLC raised its stake in shares of Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager's stock worth $347,000 after purchasing an additional 188,568 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Affiliated Managers Group by 4.8% during the fourth quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager's stock worth $21,937,000 after purchasing an additional 5,436 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

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Affiliated Managers Group Price Performance

NYSE:AMG traded down $1.41 during trading hours on Friday, hitting $168.02. The company's stock had a trading volume of 578,140 shares, compared to its average volume of 229,537. The business's 50-day moving average is $173.93 and its two-hundred day moving average is $180.06. The company has a market capitalization of $4.92 billion, a PE ratio of 11.13, a PEG ratio of 0.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. Affiliated Managers Group, Inc. has a 52-week low of $147.13 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMG shares. The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Barrington Research upped their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Affiliated Managers Group has a consensus rating of "Moderate Buy" and an average target price of $198.40.

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.