LGT Capital Partners LTD. Has $56.53 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

LGT Capital Partners LTD. decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 317,930 shares of the asset manager’s stock after selling 12,500 shares during the period. Affiliated Managers Group comprises about 2.0% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 20th largest holding. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $56,528,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings in Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after acquiring an additional 8,628 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $1,293,000. Foundry Partners LLC acquired a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $574,000. Asset Management One Co. Ltd. raised its position in Affiliated Managers Group by 94.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after purchasing an additional 5,142 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Affiliated Managers Group by 178.9% during the 2nd quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock worth $823,000 after buying an additional 3,380 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $185.14 on Tuesday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.68 and a beta of 1.18. The business’s 50-day moving average price is $183.24 and its two-hundred day moving average price is $170.44. Affiliated Managers Group, Inc. has a 1 year low of $131.34 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business posted $4.08 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Wall Street Analysts Forecast Growth

AMG has been the subject of several research reports. Bank of America lifted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barrington Research decreased their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Company 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.