Affiliated Managers Group, Inc. $AMG Stock Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,772,278 shares of the asset manager’s stock after selling 39,836 shares during the period. Vanguard Group Inc. owned approximately 9.76% of Affiliated Managers Group worth $660,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LSV Asset Management grew its position in Affiliated Managers Group by 0.7% in the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after buying an additional 3,400 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after acquiring an additional 50,219 shares during the period. Norges Bank bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $71,779,000. Balyasny Asset Management L.P. increased its stake in shares of Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Affiliated Managers Group by 18.1% during the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock valued at $46,178,000 after acquiring an additional 36,045 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. UBS Group set a $295.00 price target on Affiliated Managers Group in a research report on Tuesday, November 4th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $291.12 on Tuesday. The company has a 50-day moving average of $306.07 and a two-hundred day moving average of $265.47. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. During the same quarter in the previous year, the business earned $6.53 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be issued a $0.01 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Affiliated Managers Group Company Profile

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.