Weiss Asset Management LP Invests $2.13 Million in Affiliated Managers Group, Inc. (NYSE:AMG)

Weiss Asset Management LP purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 11,980 shares of the asset manager's stock, valued at approximately $2,130,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co bought a new position in shares of Affiliated Managers Group during the second quarter worth about $1,293,000. Asset Management One Co. Ltd. grew 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 bought a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $574,000. XTX Topco Ltd boosted its position in Affiliated Managers Group by 178.9% during the 2nd 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 period. Finally, Los Angeles Capital Management LLC grew its stake in Affiliated Managers Group by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager's stock worth $9,164,000 after buying an additional 6,616 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMG shares. TD Cowen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research reduced their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $196.50.

Affiliated Managers Group Price Performance

Shares of AMG traded down $0.69 during mid-day trading on Friday, hitting $184.42. The company's stock had a trading volume of 129,346 shares, compared to its average volume of 152,434. Affiliated Managers Group, Inc. has a fifty-two week low of $135.22 and a fifty-two week high of $199.52. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.68 and a beta of 1.15. The firm has a 50-day moving average price of $186.80 and a 200 day moving average price of $173.13.

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 company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.08 EPS. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued 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 currently 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.