Hsbc Holdings PLC lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 49.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,280 shares of the asset manager’s stock after selling 54,689 shares during the quarter. Hsbc Holdings PLC’s holdings in Affiliated Managers Group were worth $7,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Zions Bancorporation acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $170,000. Trust Co. of Toledo NA OH acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $202,000. Candriam Luxembourg S.C.A. acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $204,000. Alta Capital Management LLC acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $227,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $263,000. 92.19% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on AMG shares. Deutsche Bank cut their target price on shares of Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Bank of America reaffirmed a “buy” rating and issued a $130.00 target price (down from $155.00) on shares of Affiliated Managers Group in a report on Thursday. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Citigroup cut their target price on shares of Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Barrington Research lowered their price objective on shares of Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Affiliated Managers Group currently has an average rating of “Hold” and a consensus target price of $183.11.

In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,034 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $110.53, for a total transaction of $224,818.02. Following the sale, the director now directly owns 6,522 shares in the company, valued at approximately $720,876.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hugh Cutler bought 1,564 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $115.48 per share, for a total transaction of $180,610.72. Following the completion of the transaction, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The disclosure for this purchase can be found here. Company insiders own 0.91% of the company’s stock.

NYSE:AMG opened at $106.56 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $101.34 and a 1-year high of $216.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49. The firm has a market capitalization of $5.54 billion, a P/E ratio of 7.30, a PEG ratio of 0.58 and a beta of 1.53.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.03. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The firm had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same period last year, the firm posted $3.41 EPS. Affiliated Managers Group’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that Affiliated Managers Group, Inc. will post 14.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Thursday, November 8th were given a $0.30 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.22%.

COPYRIGHT VIOLATION WARNING: “Affiliated Managers Group, Inc. (AMG) Shares Sold by Hsbc Holdings PLC” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.watchlistnews.com/affiliated-managers-group-inc-amg-shares-sold-by-hsbc-holdings-plc/2667225.html.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

Featured Article: Are analyst ratings accurate?

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).

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

Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.