Moody Aldrich Partners LLC Purchases 7,189 Shares of Affiliated Managers Group, Inc. $AMG

Moody Aldrich Partners LLC increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 90.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,111 shares of the asset manager’s stock after buying an additional 7,189 shares during the period. Moody Aldrich Partners LLC owned about 0.05% of Affiliated Managers Group worth $3,603,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in Affiliated Managers Group by 314.3% during the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock valued at $212,668,000 after purchasing an additional 960,158 shares during the period. Norges Bank purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $71,779,000. Balyasny Asset Management L.P. boosted its stake in shares of Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares in the last quarter. Holocene Advisors LP purchased a new position in Affiliated Managers Group during the second quarter valued at approximately $19,865,000. Finally, Treasurer of the State of North Carolina increased its holdings in Affiliated Managers Group by 124.5% during the second quarter. Treasurer of the State of North Carolina now owns 96,177 shares of the asset manager’s stock valued at $18,925,000 after buying an additional 53,330 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $288.57 on Thursday. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $299.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.64 and a beta of 1.22. The stock’s 50-day simple moving average is $265.67 and its 200-day simple moving average is $235.59.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. Affiliated Managers Group’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $4.82 EPS. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.24%.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group increased their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, December 15th. UBS Group set a $295.00 target price on Affiliated Managers Group in a research note on Tuesday, November 4th. Bank of America increased their price target on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.67.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.