Affiliated Managers Group, Inc. $AMG Shares Sold by Altar Rock LLC

Altar Rock LLC reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 20.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,722 shares of the asset manager’s stock after selling 2,747 shares during the period. Affiliated Managers Group accounts for 5.2% of Altar Rock LLC’s portfolio, making the stock its 6th biggest position. Altar Rock LLC’s holdings in Affiliated Managers Group were worth $3,628,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after purchasing an additional 34 shares during the last quarter. Wedmont Private Capital increased its stake in Affiliated Managers Group by 5.3% in the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock valued at $283,000 after buying an additional 39 shares during the period. Parallel Advisors LLC increased its stake in Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after buying an additional 42 shares during the period. Allworth Financial LP raised its position in Affiliated Managers Group by 10.3% during the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after buying an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Affiliated Managers Group by 2.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

AMG has been the topic of several analyst reports. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $370.86.

Affiliated Managers Group Price Performance

Shares of AMG traded up $7.01 during trading hours on Monday, reaching $362.81. The company had a trading volume of 57,675 shares, compared to its average volume of 344,067. 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 12-month low of $230.10 and a 12-month high of $392.92. The firm has a 50 day simple moving average of $363.10 and a 200-day simple moving average of $327.09. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.48 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.39 earnings per share. Research analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

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. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.