Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 13.8% during the third quarter, Holdings Channel reports. The institutional investor owned 8,329 shares of the asset manager’s stock after selling 1,335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Affiliated Managers Group were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC lifted its holdings in Affiliated Managers Group by 24.5% in the third quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 5,698 shares during the period. Zions Bancorporation acquired a new stake in Affiliated Managers Group in the third quarter valued at $170,000. Trust Co. of Toledo NA OH acquired a new stake in Affiliated Managers Group in the third quarter valued at $202,000. Candriam Luxembourg S.C.A. acquired a new stake in Affiliated Managers Group in the third quarter valued at $204,000. Finally, Alta Capital Management LLC acquired a new stake in Affiliated Managers Group in the third quarter valued at $227,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

AMG opened at $105.15 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.49 and a quick ratio of 0.42. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.53. Affiliated Managers Group, Inc. has a 12 month low of $104.84 and a 12 month high of $216.99.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, beating the consensus estimate of $3.42 by $0.03. The company had revenue of $601.30 million during the quarter, compared to analysts’ expectations of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 14.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.22%.

Several research analysts have recently issued reports on AMG shares. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Barrington Research cut their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, October 29th. Citigroup cut their target price on shares of Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, Deutsche Bank cut their target price on shares of Affiliated Managers Group from $164.00 to $158.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $189.75.

In other Affiliated Managers Group news, EVP Hugh Cutler purchased 1,564 shares of the stock in a transaction on Wednesday, October 31st. The stock was bought at an average price of $115.48 per share, for a total transaction of $180,610.72. Following the acquisition, the executive vice president now directly owns 7,087 shares of the company’s stock, valued at $818,406.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick T. Ryan sold 2,034 shares of Affiliated Managers Group stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $112.78, for a total value of $229,394.52. Following the completion of the sale, the director now owns 14,821 shares of the company’s stock, valued at approximately $1,671,512.38. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

WARNING: This report was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/zurcher-kantonalbank-zurich-cantonalbank-has-1-14-million-position-in-affiliated-managers-group-inc-amg/2665391.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.

See Also: Bull Market

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.