Oppenheimer & Co. Inc. Makes New $821,000 Investment in Affiliated Managers Group, Inc. $AMG

Oppenheimer & Co. Inc. purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,246 shares of the asset manager’s stock, valued at approximately $821,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter worth $938,294,000. Dimensional Fund Advisors LP boosted its position in Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock valued at $198,746,000 after buying an additional 18,865 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Affiliated Managers Group during the second quarter valued at about $146,331,000. Bank of New York Mellon Corp grew its stake in shares of Affiliated Managers Group by 21.5% during the first quarter. Bank of New York Mellon Corp now owns 300,265 shares of the asset manager’s stock valued at $83,083,000 after acquiring an additional 53,076 shares in the last quarter. Finally, Bruni J V & Co. Co. acquired a new stake in shares of Affiliated Managers Group during the second quarter valued at about $71,095,810. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of AMG opened at $370.13 on Wednesday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.47 and a beta of 1.05. The stock has a 50 day moving average of $372.34 and a 200-day moving average of $333.33. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 52 week low of $246.11 and a 52 week high of $400.13.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMG shares. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. TD Cowen increased their price target on Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a report on Monday, October 12th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday, July 31st. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.25.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.