Carrera Capital Advisors Invests $4.30 Million in Affiliated Managers Group, Inc. $AMG

Carrera Capital Advisors bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the third quarter, HoldingsChannel reports. The firm bought 18,014 shares of the asset manager’s stock, valued at approximately $4,295,000. Affiliated Managers Group comprises about 0.8% of Carrera Capital Advisors’ holdings, making the stock its 27th largest holding.

Other large investors have also recently bought and sold shares of the company. Procyon Advisors LLC grew its stake in Affiliated Managers Group by 3.1% in the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 50 shares in the last quarter. Millstone Evans Group LLC grew its stake in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares in the last quarter. Guinness Asset Management LTD increased its holdings in Affiliated Managers Group by 2.4% during the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock worth $629,000 after buying an additional 74 shares during the last quarter. GAMMA Investing LLC raised its position in Affiliated Managers Group by 6.5% during the third quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock worth $318,000 after acquiring an additional 81 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Affiliated Managers Group by 1.6% during the second quarter. Cerity Partners LLC now owns 5,735 shares of the asset manager’s stock worth $1,129,000 after acquiring an additional 90 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Up 0.2%

Shares of AMG stock opened at $313.24 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $333.99. The firm has a 50 day moving average price of $292.83 and a two-hundred day moving average price of $253.67. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.81 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19.

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

Affiliated Managers Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group set a $295.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. The Goldman Sachs Group lifted their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Barrington Research raised their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.50.

About Affiliated Managers Group

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.