Bank of America Corp DE Buys 157,042 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of America Corp DE increased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 541.7% during the fourth quarter, HoldingsChannel reports. The fund owned 186,030 shares of the asset manager’s stock after acquiring an additional 157,042 shares during the quarter. Bank of America Corp DE’s holdings in Affiliated Managers Group were worth $34,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its stake in Affiliated Managers Group by 261.0% during the third quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock worth $13,600,000 after buying an additional 55,302 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Affiliated Managers Group by 36.7% during the fourth quarter. Ritholtz Wealth Management now owns 1,878 shares of the asset manager’s stock worth $347,000 after buying an additional 504 shares in the last quarter. Empirical Asset Management LLC boosted its stake in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after buying an additional 188,568 shares in the last quarter. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after buying an additional 69 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its stake in Affiliated Managers Group by 65.7% during the fourth quarter. Guinness Asset Management LTD now owns 3,326 shares of the asset manager’s stock worth $615,000 after buying an additional 1,319 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMG shares. Bank of America decreased their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. TD Cowen decreased their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Barrington Research reduced their target price on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Affiliated Managers Group Stock Up 1.3%

Shares of NYSE:AMG opened at $183.38 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The company’s fifty day moving average is $165.43 and its 200-day moving average is $175.77. The company has a market capitalization of $5.21 billion, a PE ratio of 12.14, a P/E/G ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. The company had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. During the same quarter in the previous year, the company earned $5.37 EPS. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.01 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.30%.

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.