Victory Capital Management Inc. Purchases 13,784 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Victory Capital Management Inc. grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 13.9% in the third quarter, Holdings Channel reports. The fund owned 113,191 shares of the asset manager’s stock after buying an additional 13,784 shares during the quarter. Victory Capital Management Inc.’s holdings in Affiliated Managers Group were worth $20,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMG. Entropy Technologies LP purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $201,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC raised its holdings in Affiliated Managers Group by 70.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager’s stock valued at $17,793,000 after buying an additional 41,413 shares during the period. River Global Investors LLP increased its stake in Affiliated Managers Group by 10.2% in the third quarter. River Global Investors LLP now owns 3,529 shares of the asset manager’s stock worth $627,000 after purchasing an additional 328 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Affiliated Managers Group by 47.8% in the third quarter. Crossmark Global Holdings Inc. now owns 2,820 shares of the asset manager’s stock worth $502,000 after purchasing an additional 912 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

AMG stock opened at $185.14 on Tuesday. The business has a 50-day moving average price of $183.24 and a 200 day moving average price of $170.44. The company has a market capitalization of $5.60 billion, a P/E ratio of 12.08, a PEG ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 1-year low of $131.34 and a 1-year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the previous year, the firm earned $4.08 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMG. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Bank of America increased their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $196.50.

Affiliated Managers Group Company 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.