Redwood Investment Management LLC Acquires 359 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Redwood Investment Management LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,251 shares of the asset manager’s stock after buying an additional 359 shares during the period. Redwood Investment Management LLC’s holdings in Affiliated Managers Group were worth $1,631,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at about $30,000. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at about $28,000. UMB Bank n.a. raised its position in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at about $47,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at about $49,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMG. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barrington Research reduced their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Performance

AMG opened at $185.11 on Friday. The company has a fifty day moving average of $186.63 and a two-hundred day moving average of $172.85. Affiliated Managers Group, Inc. has a fifty-two week low of $135.22 and a fifty-two week high of $199.52. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.68 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.08 EPS. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

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.