Denali Advisors LLC Has $43,000 Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Denali Advisors LLC lifted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 429.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254 shares of the asset manager’s stock after acquiring an additional 206 shares during the period. Denali Advisors LLC’s holdings in Affiliated Managers Group were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMG. Norges Bank bought a new position in shares of Affiliated Managers Group during the 4th quarter worth about $66,223,000. Channing Capital Management LLC raised its position 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 lifted its stake in Affiliated Managers Group by 342.1% during 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 acquiring an additional 124,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Affiliated Managers Group by 294.3% during the 4th 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 last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Affiliated Managers Group by 22.2% in the 4th quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock worth $77,521,000 after acquiring an additional 92,913 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a research 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 research note on Tuesday, May 7th.

Affiliated Managers Group Trading Down 0.8 %

Shares of NYSE:AMG traded down $1.30 during midday trading on Wednesday, reaching $156.71. The company had a trading volume of 255,835 shares, compared to its average volume of 262,986. The stock has a market cap of $4.99 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.51 and a beta of 1.22. The company’s 50 day moving average price is $157.57 and its 200 day moving average price is $156.90. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $169.65.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same period in the previous year, the company earned $4.18 earnings per share. Research analysts forecast that Affiliated Managers Group, Inc. will post 21.72 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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.