Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,872 shares of the asset manager’s stock after purchasing an additional 476 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Affiliated Managers Group were worth $1,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley raised its stake in Affiliated Managers Group by 907.4% during the 4th quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock valued at $439,317,000 after acquiring an additional 2,497,690 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Affiliated Managers Group by 4,914.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 755,310 shares of the asset manager’s stock worth $1,960,000 after purchasing an additional 740,248 shares during the period. Norges Bank acquired a new position in Affiliated Managers Group during the 4th quarter worth approximately $74,919,000. Deutsche Bank AG increased its position in Affiliated Managers Group by 193.7% during the 1st quarter. Deutsche Bank AG now owns 312,399 shares of the asset manager’s stock worth $44,492,000 after purchasing an additional 206,044 shares during the period. Finally, Lazard Asset Management LLC increased its position in Affiliated Managers Group by 24,288.6% during the 4th quarter. Lazard Asset Management LLC now owns 165,355 shares of the asset manager’s stock worth $26,197,000 after purchasing an additional 164,677 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.7 %

Shares of AMG opened at $161.08 on Tuesday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.57 and a beta of 1.31. The stock’s fifty day simple moving average is $160.48 and its 200 day simple moving average is $146.53. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. During the same period last year, the company posted $7.28 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMG shares. TD Cowen started coverage on Affiliated Managers Group in a report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price target on the stock. Barrington Research upped their price target on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th.

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.