Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,633 shares of the asset manager’s stock after acquiring an additional 793 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Affiliated Managers Group were worth $1,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Affiliated Managers Group by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock worth $322,537,000 after acquiring an additional 41,120 shares during the period. Ariel Investments LLC grew its stake in Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after purchasing an additional 120,977 shares during the period. LGT Capital Partners LTD. raised its holdings in Affiliated Managers Group by 28.3% in the fourth quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock worth $59,558,000 after purchasing an additional 86,670 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Affiliated Managers Group by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,027 shares of the asset manager’s stock worth $45,231,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Affiliated Managers Group by 65.7% during the third quarter. Invesco Ltd. now owns 263,664 shares of the asset manager’s stock valued at $34,366,000 after buying an additional 104,507 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen started coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price target for the company. Barrington Research raised their target price on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th.

Affiliated Managers Group Price Performance

AMG opened at $160.20 on Friday. The firm has a market cap of $5.20 billion, a PE ratio of 9.23, a P/E/G ratio of 0.56 and a beta of 1.31. The stock has a 50-day moving average price of $161.31 and a 200-day moving average price of $148.20. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $169.65.

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

Affiliated Managers Group Dividend Announcement

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

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.