Affiliated Managers Group, Inc. (AMG) Stake Raised by LGT Capital Partners LTD.
LGT Capital Partners LTD. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.4% during the first quarter, Holdings Channel reports. The firm owned 129,657 shares of the asset manager’s stock after buying an additional 10,010 shares during the period. Affiliated Managers Group makes up approximately 2.4% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 12th largest position. LGT Capital Partners LTD. owned 0.23% of Affiliated Managers Group worth $21,256,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. First Interstate Bank boosted its stake in Affiliated Managers Group by 1,273.3% in the fourth quarter. First Interstate Bank now owns 824 shares of the asset manager’s stock worth $120,000 after buying an additional 764 shares during the last quarter. HBK Sorce Advisory LLC bought a new stake in Affiliated Managers Group during the third quarter worth approximately $132,000. SRB Corp boosted its stake in Affiliated Managers Group by 29.8% in the third quarter. SRB Corp now owns 1,111 shares of the asset manager’s stock worth $161,000 after buying an additional 255 shares during the last quarter. Tredje AP fonden boosted its stake in Affiliated Managers Group by 38.6% in the fourth quarter. Tredje AP fonden now owns 1,331 shares of the asset manager’s stock worth $193,000 after buying an additional 371 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new stake in Affiliated Managers Group during the first quarter worth approximately $201,000. Institutional investors own 98.85% of the company’s stock.
Affiliated Managers Group, Inc. (NYSE:AMG) traded up 1.11% on Thursday, hitting $164.58. 249,659 shares of the company’s stock were exchanged. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $179.85. The firm has a 50 day moving average price of $163.13 and a 200-day moving average price of $152.54. The stock has a market cap of $9.33 billion, a P/E ratio of 19.21 and a beta of 1.59.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, January 30th. The asset manager reported $3.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.70 by $0.10. The company had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $563.42 million. Affiliated Managers Group had a net margin of 21.48% and a return on equity of 17.65%. Affiliated Managers Group’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.61 EPS. Analysts predict that Affiliated Managers Group, Inc. will post $14.81 earnings per share for the current fiscal year.
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A number of research firms have commented on AMG. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday. Keefe, Bruyette & Woods restated a “buy” rating and issued a $185.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 4th. Jefferies Group LLC raised their price target on shares of Affiliated Managers Group from $195.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, April 7th. Deutsche Bank AG reduced their price target on shares of Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday. Finally, TheStreet upgraded shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a report on Monday, March 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $171.22.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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