Victory Capital Management Inc. Buys 13,784 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Victory Capital Management Inc. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,191 shares of the asset manager’s stock after acquiring an additional 13,784 shares during the period. Victory Capital Management Inc. owned 0.38% of Affiliated Managers Group worth $20,125,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Affiliated Managers Group in the second quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in Affiliated Managers Group in the third quarter valued at $30,000. UMB Bank n.a. boosted its holdings in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Affiliated Managers Group in the second quarter valued at $47,000. Finally, Goodman Advisory Group LLC bought a new stake in Affiliated Managers Group in the second quarter valued at $50,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.7 %

NYSE AMG opened at $185.14 on Tuesday. The company has a 50-day moving average price of $183.24 and a 200-day moving average price of $170.44. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.08, a PEG ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $131.34 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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). The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.08 earnings per share. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.01 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMG shares. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barrington Research lowered 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. Bank of America boosted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $196.50.

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.