Channing Capital Management LLC Boosts Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Channing Capital Management LLC raised its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 688.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 474,542 shares of the asset manager’s stock after purchasing an additional 414,389 shares during the period. Affiliated Managers Group accounts for about 2.1% of Channing Capital Management LLC’s portfolio, making the stock its 14th largest position. Channing Capital Management LLC owned 1.40% of Affiliated Managers Group worth $71,855,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Verdence Capital Advisors LLC grew its position in shares of Affiliated Managers Group by 3.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 17,972 shares of the asset manager’s stock worth $2,343,000 after buying an additional 632 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Affiliated Managers Group by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the asset manager’s stock worth $892,000 after buying an additional 816 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Affiliated Managers Group by 18.2% in the 3rd quarter. Mackenzie Financial Corp now owns 6,510 shares of the asset manager’s stock worth $827,000 after buying an additional 1,003 shares during the last quarter. North Star Asset Management Inc. grew its position in shares of Affiliated Managers Group by 0.9% in the 3rd quarter. North Star Asset Management Inc. now owns 97,254 shares of the asset manager’s stock worth $12,676,000 after buying an additional 861 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Affiliated Managers Group by 379.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,058 shares of the asset manager’s stock worth $3,527,000 after buying an additional 21,414 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE:AMG traded down $0.30 during trading hours on Friday, hitting $160.35. 341,524 shares of the company were exchanged, compared to its average volume of 258,542. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.56 and a beta of 1.31. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $169.65. The company’s 50 day moving average price is $161.52 and its 200-day moving average price is $149.55.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.83. The company had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.28 EPS. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s payout ratio is 0.23%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their price objective on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th.

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.