JPMorgan Chase & Co. Purchases 53,161 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

JPMorgan Chase & Co. raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 691,920 shares of the asset manager’s stock after purchasing an additional 53,161 shares during the period. JPMorgan Chase & Co. owned 1.81% of Affiliated Managers Group worth $80,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Clarkston Capital Partners LLC grew its holdings in Affiliated Managers Group by 21.1% during the second quarter. Clarkston Capital Partners LLC now owns 2,028,182 shares of the asset manager’s stock valued at $236,486,000 after purchasing an additional 353,109 shares during the period. Cerity Partners LLC boosted its holdings in shares of Affiliated Managers Group by 16.0% in the second quarter. Cerity Partners LLC now owns 7,253 shares of the asset manager’s stock worth $846,000 after acquiring an additional 1,002 shares during the period. Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group in the second quarter worth $38,000. Lazard Asset Management LLC boosted its holdings in shares of Affiliated Managers Group by 146.5% in the second quarter. Lazard Asset Management LLC now owns 678 shares of the asset manager’s stock worth $79,000 after acquiring an additional 403 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Affiliated Managers Group by 12.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 26,725 shares of the asset manager’s stock worth $3,115,000 after acquiring an additional 3,044 shares during the period. 96.62% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Down 0.1 %

NYSE AMG opened at $156.74 on Thursday. The stock’s 50-day simple moving average is $127.98 and its two-hundred day simple moving average is $126.84. Affiliated Managers Group, Inc. has a twelve month low of $108.12 and a twelve month high of $178.10. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.99 and a beta of 1.28.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.31%.

Wall Street Analysts Forecast Growth

AMG has been the subject of a number of analyst reports. Barrington Research raised their price target on Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. Credit Suisse Group raised their price target on Affiliated Managers Group from $140.00 to $163.50 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $161.00 to $171.00 and gave the stock a “buy” rating in a report on Tuesday, November 15th. The Goldman Sachs Group initiated coverage on Affiliated Managers Group in a report on Monday. They issued a “buy” rating and a $182.00 price target for the company. Finally, StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.64.

Affiliated Managers Group Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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