Wealthfront Advisers LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 71,031 shares of the asset manager's stock, valued at approximately $13,135,000. Wealthfront Advisers LLC owned 0.23% of Affiliated Managers Group as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after purchasing an additional 62 shares during the period. Ashton Thomas Securities LLC bought a new position in Affiliated Managers Group during the 3rd quarter worth $30,000. Private Trust Co. NA lifted its holdings in shares of Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after buying an additional 124 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after acquiring an additional 69 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group in the third quarter valued at about $46,000. Institutional investors own 95.30% of the company's stock.
A number of equities analysts recently commented on the stock. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $198.40.
Read Our Latest Report on AMG
Shares of Affiliated Managers Group stock traded up $1.62 on Wednesday, reaching $161.84. 352,533 shares of the stock were exchanged, compared to its average volume of 229,614. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market cap of $4.73 billion, a PE ratio of 10.72, a P/E/G ratio of 0.57 and a beta of 1.18. The firm's 50 day moving average is $176.73 and its 200-day moving average is $180.59. Affiliated Managers Group, Inc. has a one year low of $147.13 and a one year high of $199.52.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's payout ratio is currently 0.26%.
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.
Before you consider Affiliated Managers Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Affiliated Managers Group wasn't on the list.
While Affiliated Managers Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.