Seascape Capital Management Increases Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Seascape Capital Management grew its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 16,740 shares of the asset manager’s stock after acquiring an additional 549 shares during the period. Seascape Capital Management’s holdings in Affiliated Managers Group were worth $2,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMG. Boston Partners raised its stake in Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after buying an additional 373,696 shares in the last quarter. Norges Bank purchased a new position in Affiliated Managers Group in the fourth quarter worth $68,683,000. LSV Asset Management grew its holdings in shares of Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after buying an additional 187,290 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Affiliated Managers Group by 119.2% during the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock valued at $56,493,000 after buying an additional 166,144 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Affiliated Managers Group by 541.7% during the fourth quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager’s stock valued at $34,401,000 after buying an additional 157,042 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Barrington Research dropped their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Bank of America cut their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and an average target price of $197.80.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $201.45 on Friday. The firm has a market cap of $5.73 billion, a PE ratio of 15.31, a P/E/G ratio of 0.68 and a beta of 1.09. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $202.67. The firm’s fifty day moving average is $181.64 and its two-hundred day moving average is $175.23.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. The business had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period in the previous year, the business posted $5.37 earnings per share. Research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group’s dividend payout ratio is currently 0.30%.

About Affiliated Managers Group

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.