Lazard Asset Management LLC reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,007 shares of the asset manager’s stock after selling 1,505 shares during the period. Lazard Asset Management LLC owned about 0.16% of Affiliated Managers Group worth $14,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning raised its position in Affiliated Managers Group by 15.0% during the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after acquiring an additional 92 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Affiliated Managers Group by 2.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares during the period. Financial Architects Inc raised its position in Affiliated Managers Group by 2.1% during the second quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after acquiring an additional 17 shares during the period. FNY Partners Fund LP acquired a new position in Affiliated Managers Group during the first quarter worth $163,000. Finally, Global X Management Co. LLC raised its position in Affiliated Managers Group by 78.5% during the second quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock worth $163,000 after acquiring an additional 431 shares during the period. Hedge funds and other institutional investors own 96.16% of the company’s stock.

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A number of research firms have weighed in on AMG. Jefferies Group LLC restated a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Friday, August 18th. BidaskClub cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Citigroup Inc. cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Monday, June 5th. ValuEngine cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $195.50.

Shares of Affiliated Managers Group, Inc. (AMG) opened at 184.97 on Friday. The firm has a market capitalization of $10.35 billion, a PE ratio of 20.49 and a beta of 1.66. The stock has a 50 day moving average of $177.13 and a 200-day moving average of $166.93. Affiliated Managers Group, Inc. has a 12 month low of $130.48 and a 12 month high of $187.08.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. The company had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.07 EPS. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post $14.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.87%.

About Affiliated Managers Group

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.

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

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