First Hawaiian Bank Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

First Hawaiian Bank bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, Holdings Channel reports. The institutional investor bought 4,121 shares of the asset manager’s stock, valued at approximately $644,000.

A number of other hedge funds have also made changes to their positions in AMG. Invst LLC acquired a new position in Affiliated Managers Group during the first quarter worth $813,000. Burney Co. purchased a new stake in shares of Affiliated Managers Group in the 1st quarter valued at approximately $466,000. Virtu Financial LLC acquired a new stake in shares of Affiliated Managers Group during the 1st quarter worth approximately $353,000. Algebris UK Ltd acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at $2,161,000. Finally, EMC Capital Management boosted its stake in Affiliated Managers Group by 27.0% during the first quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock worth $199,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 5.1 %

NYSE:AMG traded down $8.66 during trading hours on Monday, hitting $160.89. The company’s stock had a trading volume of 290,482 shares, compared to its average volume of 266,835. The stock has a fifty day moving average of $162.33 and a 200-day moving average of $160.04. The stock has a market capitalization of $5.13 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $189.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter last year, the company earned $4.45 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 21.82 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a $0.01 dividend. The ex-dividend date of this dividend 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 payout ratio is 0.22%.

Wall Street Analyst Weigh In

AMG has been the topic of a number of research analyst reports. Barrington Research boosted their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. TD Cowen increased their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Bank of America upped their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

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.