Truvestments Capital LLC Purchases Shares of 330 Affiliated Managers Group, Inc. (NYSE:AMG)

Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, Holdings Channel reports. The firm bought 330 shares of the asset manager’s stock, valued at approximately $59,000.

A number of other institutional investors have also modified their holdings of the company. Ensign Peak Advisors Inc grew its holdings in shares of Affiliated Managers Group by 0.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after purchasing an additional 60 shares during the period. Covestor Ltd grew its holdings in shares of Affiliated Managers Group by 21.4% during the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after purchasing an additional 83 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of Affiliated Managers Group by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after purchasing an additional 90 shares during the period. Kendall Capital Management grew its holdings in shares of Affiliated Managers Group by 2.5% during the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock worth $646,000 after purchasing an additional 100 shares during the period. Finally, Foundry Partners LLC grew its holdings in shares of Affiliated Managers Group by 3.0% during the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock worth $672,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

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

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $188.46 on Thursday. The stock’s 50 day moving average price is $185.35 and its 200 day moving average price is $171.68. The firm has a market capitalization of $5.70 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a one year low of $131.81 and a one year high of $199.52.

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

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. 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.