Victory Capital Management Inc. Raises Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Victory Capital Management Inc. grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,191 shares of the asset manager's stock after purchasing an additional 13,784 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of Affiliated Managers Group worth $20,125,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group during the second quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in shares of Affiliated Managers Group during the third quarter worth $30,000. UMB Bank n.a. lifted its holdings in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter worth $47,000. Finally, Goodman Advisory Group LLC acquired a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $50,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AMG shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Barrington Research cut their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. TD Cowen cut Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America upped their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. 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, Affiliated Managers Group currently has an average rating of "Hold" and a consensus target price of $196.50.

Affiliated Managers Group Trading Down 1.1 %

Affiliated Managers Group stock traded down $1.99 during midday trading on Tuesday, reaching $183.15. The company's stock had a trading volume of 163,909 shares, compared to its average volume of 239,209. The stock has a market cap of $5.54 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $131.34 and a 52 week high of $199.52. The business has a 50-day moving average price of $183.24 and a 200-day moving average price of $170.44.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results 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 company had revenue of $525.20 million during 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.08 EPS. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group's dividend payout ratio is currently 0.26%.

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.