Kovitz Investment Group Partners LLC Makes New $543,000 Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Kovitz Investment Group Partners LLC purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,117 shares of the asset manager's stock, valued at approximately $543,000.

A number of other hedge funds also recently bought and sold shares of the company. 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 worth $1,547,000 after purchasing an additional 60 shares during the period. Covestor Ltd boosted 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 buying an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager's stock valued at $838,000 after buying an additional 90 shares during the period. Kendall Capital Management raised its position in Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager's stock worth $646,000 after acquiring an additional 100 shares during the period. Finally, Foundry Partners LLC grew its position in shares of Affiliated Managers Group by 3.0% during the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager's stock valued at $672,000 after acquiring an additional 110 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG traded down $2.03 during mid-day trading on Friday, reaching $186.82. The company's stock had a trading volume of 57,027 shares, compared to its average volume of 233,803. Affiliated Managers Group, Inc. has a 52 week low of $145.36 and a 52 week high of $199.52. The stock has a fifty day moving average of $187.51 and a two-hundred day moving average of $173.82. The firm has a market capitalization of $5.65 billion, a PE ratio of 12.32, a P/E/G ratio of 0.69 and a beta of 1.15.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million for 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%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $4.08 earnings per share. Analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio is 0.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen cut Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. 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 research report on Monday, November 11th. Finally, Barrington Research reduced 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.