Convergence Investment Partners LLC Buys Shares of 2,056 Affiliated Managers Group, Inc. (NYSE:AMG)

Convergence Investment Partners LLC purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,056 shares of the asset manager’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC raised its stake in Affiliated Managers Group by 80.0% during the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after buying an additional 72 shares during the period. GAMMA Investing LLC acquired a new stake in Affiliated Managers Group during the 4th quarter worth approximately $62,000. Blue Trust Inc. lifted its position in Affiliated Managers Group by 17.1% in the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Signaturefd LLC boosted its position in shares of Affiliated Managers Group by 97.1% during the fourth quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock worth $132,000 after buying an additional 430 shares during the period. Finally, Integrated Investment Consultants LLC bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $204,000. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $160.20 on Monday. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $169.65. The firm’s 50-day simple moving average is $161.31 and its 200 day simple moving average is $148.45. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.56 and a beta of 1.31.

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

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is 0.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMG shares. TD Cowen initiated coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective on the stock. Barrington Research raised their target price on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th.

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.