Alaska Permanent Fund Corp Buys 231 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Alaska Permanent Fund Corp lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,931 shares of the asset manager’s stock after purchasing an additional 231 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Affiliated Managers Group were worth $2,412,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in Affiliated Managers Group by 7.4% in the 3rd quarter. CWM LLC now owns 2,613 shares of the asset manager’s stock worth $341,000 after acquiring an additional 180 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Affiliated Managers Group by 160.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,175 shares of the asset manager’s stock valued at $2,499,000 after buying an additional 11,801 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Affiliated Managers Group by 3.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 17,972 shares of the asset manager’s stock valued at $2,343,000 after buying an additional 632 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Affiliated Managers Group by 13.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the asset manager’s stock valued at $892,000 after buying an additional 816 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Affiliated Managers Group by 18.2% during the 3rd quarter. Mackenzie Financial Corp now owns 6,510 shares of the asset manager’s stock valued at $827,000 after buying an additional 1,003 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMG shares. TD Cowen started coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective for the company. Barrington Research upped their price objective on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded down $3.94 during trading on Thursday, reaching $158.13. 27,747 shares of the company were exchanged, compared to its average volume of 229,176. The firm has a market capitalization of $5.13 billion, a PE ratio of 9.34, a P/E/G ratio of 0.56 and a beta of 1.31. The business’s fifty day simple moving average is $161.05 and its 200-day simple moving average is $147.81. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $169.65.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

About Affiliated Managers Group

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.