Front Barnett Associates LLC increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,218 shares of the asset manager’s stock after buying an additional 2,046 shares during the quarter. Front Barnett Associates LLC’s holdings in Affiliated Managers Group were worth $7,003,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMG. Redpoint Investment Management Pty Ltd raised its position in Affiliated Managers Group by 3.8% in the second quarter. Redpoint Investment Management Pty Ltd now owns 9,398 shares of the asset manager’s stock valued at $1,397,000 after purchasing an additional 343 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Affiliated Managers Group by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 3,466 shares of the asset manager’s stock valued at $515,000 after purchasing an additional 382 shares during the last quarter. New Jersey Better Educational Savings Trust raised its position in Affiliated Managers Group by 20.0% in the third quarter. New Jersey Better Educational Savings Trust now owns 2,400 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 400 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Affiliated Managers Group by 21.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,339 shares of the asset manager’s stock valued at $348,000 after purchasing an additional 409 shares during the last quarter. Finally, Guinness Asset Management Ltd raised its position in Affiliated Managers Group by 21.9% in the third quarter. Guinness Asset Management Ltd now owns 2,274 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.

Several research firms have commented on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price for the company in a research report on Monday, July 30th. Barrington Research dropped their target price on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Citigroup dropped their target price on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Finally, Deutsche Bank dropped their target price on Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $190.50.

Shares of AMG stock opened at $115.24 on Friday. The stock has a market capitalization of $6.20 billion, a PE ratio of 7.89, a P/E/G ratio of 0.65 and a beta of 1.53. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.07. Affiliated Managers Group, Inc. has a 1-year low of $110.27 and a 1-year high of $216.99.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.03. The company had revenue of $601.30 million during the quarter, compared to analysts’ expectations of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 earnings per share. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 14.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. Affiliated Managers Group’s payout ratio is 8.22%.

In related news, EVP Hugh Cutler purchased 1,564 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was bought at an average price of $115.48 per share, with a total value of $180,610.72. Following the completion of the purchase, the executive vice president now owns 7,087 shares in the company, valued at approximately $818,406.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

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Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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