AIA Group Ltd Buys 4,629 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

AIA Group Ltd grew its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 143.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,854 shares of the asset manager’s stock after acquiring an additional 4,629 shares during the quarter. AIA Group Ltd’s holdings in Affiliated Managers Group were worth $1,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Affiliated Managers Group by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,633 shares of the asset manager’s stock valued at $1,156,000 after acquiring an additional 793 shares during the period. Cornercap Investment Counsel Inc. lifted its position in shares of Affiliated Managers Group by 7.4% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 6,872 shares of the asset manager’s stock valued at $1,041,000 after acquiring an additional 476 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $576,000. Louisiana State Employees Retirement System bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $1,438,000. Finally, Seascape Capital Management lifted its position in shares of Affiliated Managers Group by 5.6% during the 4th quarter. Seascape Capital Management now owns 14,055 shares of the asset manager’s stock worth $2,128,000 after buying an additional 749 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 0.3 %

Affiliated Managers Group stock opened at $158.60 on Friday. The company has a market capitalization of $5.15 billion, a PE ratio of 9.12, a P/E/G ratio of 0.55 and a beta of 1.31. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65. The stock has a 50-day moving average price of $160.76 and a two-hundred day moving average price of $146.90.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, beating the consensus estimate of $6.03 by $0.83. The firm had revenue of $502.70 million during the quarter, compared to the consensus estimate of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company earned $7.28 earnings per share. As a group, analysts predict that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

Wall Street Analysts Forecast Growth

AMG has been the subject of several recent analyst reports. TD Cowen initiated coverage on Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company. Barrington Research upped their price objective on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th.

About Affiliated Managers Group

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.