Sumitomo Mitsui Asset Management Company LTD reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,300 shares of the asset manager’s stock after selling 314 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Affiliated Managers Group were worth $816,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. OppenheimerFunds Inc. grew its holdings in Affiliated Managers Group by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock valued at $317,000 after buying an additional 7 shares in the last quarter. Stephens Inc. AR grew its holdings in Affiliated Managers Group by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock valued at $373,000 after buying an additional 9 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in Affiliated Managers Group by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock valued at $269,000 after buying an additional 11 shares in the last quarter. Somerset Trust Co grew its holdings in Affiliated Managers Group by 0.4% in the 2nd quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock valued at $627,000 after buying an additional 16 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in Affiliated Managers Group by 2.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after buying an additional 16 shares in the last quarter. Institutional investors own 96.41% of the company’s stock.

Affiliated Managers Group, Inc. (NYSE AMG) opened at $186.06 on Tuesday. Affiliated Managers Group, Inc. has a twelve month low of $130.48 and a twelve month high of $198.40. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $10,302.11, a price-to-earnings ratio of 13.48, a PEG ratio of 0.87 and a beta of 1.70.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter in the prior year, the company earned $3.02 EPS. Affiliated Managers Group’s revenue was up 7.5% on a year-over-year basis. research analysts predict that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, November 8th. Affiliated Managers Group’s payout ratio is 8.66%.

Several brokerages have issued reports on AMG. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $215.00 price target on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Barrington Research reiterated an “outperform” rating and set a $215.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a report on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $207.25.

In related news, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the transaction, the director now owns 6,104 shares of the company’s stock, valued at approximately $1,124,845.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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Affiliated Managers Group Company 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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