Jacobs Levy Equity Management Inc. Boosts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Jacobs Levy Equity Management Inc. raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 36.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 177,530 shares of the asset manager’s stock after acquiring an additional 47,239 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Affiliated Managers Group were worth $29,731,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC grew its holdings in Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after acquiring an additional 72 shares during the period. Denali Advisors LLC increased its holdings in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after buying an additional 206 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Affiliated Managers Group in the fourth quarter worth about $62,000. Quadrant Capital Group LLC boosted its stake in shares of Affiliated Managers Group by 45.6% during the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock worth $89,000 after acquiring an additional 185 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Affiliated Managers Group by 17.1% during 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 during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.4 %

Shares of NYSE AMG traded up $0.82 during midday trading on Tuesday, hitting $184.73. The stock had a trading volume of 414,533 shares, compared to its average volume of 266,957. The stock has a 50 day simple moving average of $160.64 and a 200-day simple moving average of $159.08. The company has a market capitalization of $5.89 billion, a PE ratio of 10.14, a P/E/G ratio of 0.62 and a beta of 1.22. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $187.29.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. The company had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.45 EPS. As a group, analysts expect that Affiliated Managers Group, Inc. will post 21.59 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a $0.01 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMG. Barrington Research increased their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen boosted their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America increased their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

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.