Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 52.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,642 shares of the asset manager’s stock after selling 59,036 shares during the period. Voloridge Investment Management LLC owned approximately 0.17% of Affiliated Managers Group worth $9,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after purchasing an additional 62 shares during the period. Private Trust Co. NA grew its position in Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock worth $40,000 after purchasing an additional 124 shares during the period. UMB Bank n.a. grew its position in Affiliated Managers Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after purchasing an additional 69 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Affiliated Managers Group during the 4th quarter worth about $70,000. Finally, Lingohr Asset Management GmbH acquired a new stake in Affiliated Managers Group during the 4th quarter worth about $204,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of analyst reports. Barrington Research dropped their target price on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. TD Cowen dropped their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America dropped their target price on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and a consensus price target of $192.40.

Affiliated Managers Group Trading Down 0.9%

AMG stock opened at $173.94 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $199.52. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.57 and a beta of 1.06. The business’s 50-day moving average is $166.91 and its 200 day moving average is $175.35.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. The business had revenue of $496.60 million for the quarter, compared to analysts’ expectations of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same period in the previous year, the firm posted $5.37 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Monday, May 19th. Affiliated Managers Group’s dividend payout ratio is currently 0.30%.

Affiliated Managers Group Profile

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.