Affiliated Managers Group, Inc. (NYSE:AMG) Stock Position Boosted by Verition Fund Management LLC

Verition Fund Management LLC grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 240.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,289 shares of the asset manager's stock after acquiring an additional 4,440 shares during the quarter. Verition Fund Management LLC's holdings in Affiliated Managers Group were worth $1,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in Affiliated Managers Group during the third quarter valued at approximately $30,000. UMB Bank n.a. grew its stake in Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock worth $33,000 after buying an additional 154 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $47,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $47,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

NYSE:AMG traded down $0.69 during mid-day trading on Friday, reaching $184.42. The stock had a trading volume of 129,346 shares, compared to its average volume of 152,434. The stock's 50 day simple moving average is $186.80 and its two-hundred day simple moving average is $173.13. Affiliated Managers Group, Inc. has a 1-year low of $135.22 and a 1-year high of $199.52. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 12.03, 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 quarterly 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 firm had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.08 earnings per share. Sell-side 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 disclosed 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group's dividend payout ratio is presently 0.26%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMG shares. TD Cowen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, Barrington Research decreased their price target 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Affiliated Managers Group currently has an average rating of "Hold" and an average price target of $196.50.

About Affiliated Managers Group

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.