Kestra Investment Management LLC Buys 1,071 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Kestra Investment Management LLC raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,656 shares of the asset manager’s stock after buying an additional 1,071 shares during the quarter. Kestra Investment Management LLC’s holdings in Affiliated Managers Group were worth $861,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after buying an additional 69 shares in the last quarter. Covestor Ltd lifted its stake in Affiliated Managers Group by 21.4% in the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after buying an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Affiliated Managers Group by 1.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after buying an additional 90 shares in the last quarter. GAMMA Investing LLC lifted its stake in Affiliated Managers Group by 11.8% in the fourth quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock valued at $164,000 after buying an additional 94 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Affiliated Managers Group by 1.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock valued at $1,553,000 after buying an additional 100 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, Barrington Research lifted their price objective on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.40.

Affiliated Managers Group Price Performance

Shares of AMG opened at $171.14 on Wednesday. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.67 and a beta of 1.15. Affiliated Managers Group, Inc. has a 1-year low of $147.13 and a 1-year high of $199.52. The company’s fifty day simple moving average is $183.03 and its 200 day simple moving average is $180.90. The company has a current ratio of 2.13, a quick ratio of 0.45 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 22.83 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

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.