Perpetual Ltd purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 58,000 shares of the asset manager’s stock, valued at approximately $9,620,000. Perpetual Ltd owned about 0.10% of Affiliated Managers Group at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in AMG. Waldron LP bought a new stake in shares of Affiliated Managers Group in the 1st quarter valued at about $236,000. Empire Life Investments Inc. bought a new stake in shares of Affiliated Managers Group in the 1st quarter valued at about $4,496,000. UBS Asset Management Americas Inc. increased its stake in shares of Affiliated Managers Group by 8.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 136,726 shares of the asset manager’s stock valued at $22,415,000 after acquiring an additional 11,200 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Affiliated Managers Group by 3.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,770 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 60 shares during the last quarter. Finally, Credit Agricole S A increased its stake in shares of Affiliated Managers Group by 3.7% in the 1st quarter. Credit Agricole S A now owns 9,932 shares of the asset manager’s stock valued at $1,628,000 after acquiring an additional 352 shares during the last quarter. 96.24% of the stock is owned by institutional investors.
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A number of analysts have recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research note on Friday, August 18th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. Finally, ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $207.25.
Affiliated Managers Group, Inc. (NYSE:AMG) traded down 0.320% during mid-day trading on Tuesday, reaching $194.675. The company had a trading volume of 121,558 shares. The firm has a market capitalization of $10.89 billion, a P/E ratio of 21.566 and a beta of 1.66. Affiliated Managers Group, Inc. has a one year low of $130.48 and a one year high of $196.77. The firm’s 50-day moving average is $184.12 and its 200-day moving average is $170.54.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09. The firm had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.07 earnings per share. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post $14.48 earnings per share for the current fiscal year.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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