Channing Capital Management LLC Boosts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Channing Capital Management LLC raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 688.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 474,542 shares of the asset manager’s stock after purchasing an additional 414,389 shares during the period. Affiliated Managers Group makes up 2.1% of Channing Capital Management LLC’s holdings, making the stock its 14th biggest holding. Channing Capital Management LLC’s holdings in Affiliated Managers Group were worth $71,855,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC acquired a new position in Affiliated Managers Group during the 4th quarter worth $62,000. Blue Trust Inc. increased its holdings in Affiliated Managers Group by 17.1% during the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after purchasing an additional 90 shares during the period. Signaturefd LLC raised its position in Affiliated Managers Group by 97.1% in the 4th quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock valued at $132,000 after purchasing an additional 430 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in Affiliated Managers Group in the 4th quarter valued at about $204,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research boosted their price objective on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded down $0.30 during trading on Friday, hitting $160.35. 341,524 shares of the stock were exchanged, compared to its average volume of 258,542. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. The firm’s 50-day moving average price is $161.52 and its 200 day moving average price is $149.55. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83. The company had revenue of $502.70 million during the quarter, compared to the consensus estimate of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. Affiliated Managers Group’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $7.28 EPS. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.23%.

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.