Los Angeles Capital Management LLC Buys 924 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Los Angeles Capital Management LLC grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,043 shares of the asset manager’s stock after acquiring an additional 924 shares during the period. Los Angeles Capital Management LLC owned about 0.16% of Affiliated Managers Group worth $8,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Affiliated Managers Group during the fourth quarter worth about $66,223,000. Channing Capital Management LLC raised its holdings in Affiliated Managers Group by 688.9% in the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after buying an additional 414,389 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Affiliated Managers Group by 342.1% in the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock valued at $24,435,000 after buying an additional 124,871 shares during the last quarter. Ariel Investments LLC raised its position in shares of Affiliated Managers Group by 11.3% during the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after acquiring an additional 120,977 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Affiliated Managers Group by 294.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock worth $22,447,000 after acquiring an additional 110,646 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.9 %

NYSE AMG opened at $153.03 on Thursday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.49 and a beta of 1.24. The stock’s 50-day simple moving average is $158.25 and its two-hundred day simple moving average is $155.80. 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 announced its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The company had revenue of $499.90 million for the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter in the previous year, the business earned $4.18 EPS. On average, equities analysts expect that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen lowered their price objective on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Barrington Research restated an “outperform” rating and issued a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday, May 7th.

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.