Truvestments Capital LLC Buys Shares of 330 Affiliated Managers Group, Inc. (NYSE:AMG)

Truvestments Capital LLC purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 330 shares of the asset manager’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth $30,000. UMB Bank n.a. raised its stake in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after buying an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth $47,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.4 %

Shares of AMG stock opened at $188.46 on Thursday. The firm has a 50-day moving average price of $185.35 and a 200 day moving average price of $171.68. Affiliated Managers Group, Inc. has a twelve month low of $131.81 and a twelve month high of $199.52. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.69 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results 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 analysts’ expectations 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 quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 EPS. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target 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 downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research cut their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.50.

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.