Nicola Wealth Management LTD. Boosts Stake in Affiliated Managers Group, Inc. $AMG

Nicola Wealth Management LTD. raised its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 31.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,000 shares of the asset manager’s stock after buying an additional 7,000 shares during the period. Nicola Wealth Management LTD. owned approximately 0.10% of Affiliated Managers Group worth $6,914,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC acquired a new position in shares of Affiliated Managers Group during the third quarter valued at $2,673,000. Cullen Frost Bankers Inc. grew its position in Affiliated Managers Group by 79.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after purchasing an additional 266 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock valued at $46,178,000 after purchasing an additional 36,045 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Affiliated Managers Group during the second quarter worth approximately $226,000. Finally, AlphaCore Capital LLC bought a new position in shares of Affiliated Managers Group in the second quarter worth $49,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. UBS Group set a $295.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.50.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $312.08 on Tuesday. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.59 and a beta of 1.19. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $333.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $288.19 and its 200-day moving average is $250.99.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.88 by $0.22. The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.82 EPS. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is 0.24%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.