Affiliated Managers Group, Inc. $AMG Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,772,278 shares of the asset manager’s stock after selling 39,836 shares during the period. Vanguard Group Inc. owned 0.10% of Affiliated Managers Group worth $660,994,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $33,000. Meeder Asset Management Inc. acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $34,000. Hantz Financial Services Inc. grew its holdings in shares of Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC increased its stake in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $291.12 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $7.77 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The stock has a 50-day moving average of $306.07 and a 200-day moving average of $265.47. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $6.53 EPS. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, February 23rd. Affiliated Managers Group’s payout ratio is presently 0.17%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMG. The Goldman Sachs Group lifted their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Jefferies Financial Group restated a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $350.14.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.