Huntington National Bank Grows Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Huntington National Bank grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 7,575.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307 shares of the asset manager’s stock after buying an additional 303 shares during the period. Huntington National Bank’s holdings in Affiliated Managers Group were worth $55,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ariel Investments LLC raised its stake in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after acquiring an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after purchasing an additional 30,059 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates boosted its position in Affiliated Managers Group by 9.6% in the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after buying an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Affiliated Managers Group by 6.7% in the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock worth $32,919,000 after buying an additional 11,565 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMG. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barrington Research decreased their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Down 0.7 %

NYSE:AMG opened at $185.14 on Tuesday. The stock has a market capitalization of $5.60 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $131.34 and a 52 week high of $199.52. The stock’s 50-day moving average price is $183.24 and its 200-day moving average price is $170.44.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The business 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% on a year-over-year basis. During the same period in the previous year, the business posted $4.08 earnings per share. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given 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 is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

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.