Thrivent Financial For Lutherans Acquires 8,710 Shares of Affiliated Managers Group, Inc. (AMG)

Thrivent Financial For Lutherans raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 176,120 shares of the asset manager’s stock after acquiring an additional 8,710 shares during the period. Thrivent Financial For Lutherans owned approximately 0.31% of Affiliated Managers Group worth $29,211,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. ProShare Advisors LLC raised its holdings in Affiliated Managers Group by 29.2% in the 2nd quarter. ProShare Advisors LLC now owns 16,865 shares of the asset manager’s stock valued at $2,797,000 after acquiring an additional 3,811 shares during the last quarter. Amalgamated Bank raised its holdings in Affiliated Managers Group by 54.5% in the 2nd quarter. Amalgamated Bank now owns 6,257 shares of the asset manager’s stock valued at $1,038,000 after acquiring an additional 2,207 shares during the last quarter. Nicholas Company Inc. raised its holdings in Affiliated Managers Group by 3.4% in the 2nd quarter. Nicholas Company Inc. now owns 533,475 shares of the asset manager’s stock valued at $88,482,000 after acquiring an additional 17,725 shares during the last quarter. Rock Point Advisors LLC raised its holdings in Affiliated Managers Group by 2.1% in the 2nd quarter. Rock Point Advisors LLC now owns 18,120 shares of the asset manager’s stock valued at $3,005,000 after acquiring an additional 375 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in Affiliated Managers Group by 12.1% in the 2nd quarter. Norinchukin Bank The now owns 2,235 shares of the asset manager’s stock valued at $371,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 96.16% of the company’s stock.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) traded up 0.275% during mid-day trading on Monday, hitting $180.365. 37,286 shares of the stock were exchanged. The company has a 50-day moving average of $177.11 and a 200 day moving average of $166.75. The stock has a market cap of $10.09 billion, a PE ratio of 19.981 and a beta of 1.66. Affiliated Managers Group, Inc. has a one year low of $130.48 and a one year high of $187.08.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $570.90 million during the quarter, compared to analyst estimates of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.07 earnings per share. On average, equities analysts predict that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 8.87%.

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A number of analysts have commented on AMG shares. Credit Suisse Group reiterated a “buy” rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. BidaskClub upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. ValuEngine downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Monday, June 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $195.50.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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