Callan Capital LLC Invests $292,000 in Affiliated Managers Group, Inc. (NYSE:AMG)

Callan Capital LLC purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,744 shares of the asset manager’s stock, valued at approximately $292,000.

Several other hedge funds also recently modified their holdings of AMG. Norges Bank acquired a new position in shares of Affiliated Managers Group during the 4th quarter worth $66,223,000. Channing Capital Management LLC increased its stake in shares of Affiliated Managers Group by 688.9% during the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock worth $71,855,000 after purchasing an additional 414,389 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Affiliated Managers Group by 342.1% during the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after purchasing an additional 124,871 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Affiliated Managers Group by 294.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock worth $22,447,000 after purchasing an additional 110,646 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Affiliated Managers Group by 22.2% during the 4th quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock worth $77,521,000 after purchasing an additional 92,913 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, May 7th.

Affiliated Managers Group Stock Up 3.1 %

Affiliated Managers Group stock traded up $4.82 during mid-day trading on Wednesday, reaching $159.54. The company had a trading volume of 317,379 shares, compared to its average volume of 264,713. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $169.65. The company has a 50 day moving average of $157.19 and a 200-day moving average of $157.05. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.50 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. During the same period in the prior year, the firm earned $4.18 EPS. On average, analysts predict that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.22%.

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.