Bridgewater Associates LP Acquires 16,001 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Bridgewater Associates LP lifted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 25.3% in the 3rd quarter, Holdings Channel reports. The firm owned 79,326 shares of the asset manager’s stock after acquiring an additional 16,001 shares during the period. Bridgewater Associates LP’s holdings in Affiliated Managers Group were worth $14,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its stake in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares during the period. Goodman Financial Corp purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth $14,035,000. Victory Capital Management Inc. grew its position in shares of Affiliated Managers Group by 150.1% during the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after acquiring an additional 59,659 shares during the period. Bank of Montreal Can increased its stake in shares of Affiliated Managers Group by 328.2% in the 3rd quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock worth $12,420,000 after purchasing an additional 54,003 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Affiliated Managers Group by 70.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager’s stock worth $17,793,000 after purchasing an additional 41,413 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMG shares. Barrington Research reduced their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Trading Down 0.4 %

NYSE AMG opened at $188.46 on Thursday. Affiliated Managers Group, Inc. has a 12 month low of $131.81 and a 12 month high of $199.52. The stock’s 50 day moving average is $185.35 and its 200 day moving average is $171.68. The stock has a market cap of $5.70 billion, a PE ratio of 12.29, a P/E/G ratio of 0.69 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.08 EPS. On average, analysts forecast that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Affiliated Managers Group Company 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.