Lyrical Asset Management LP Lowers Holdings in Affiliated Managers Group, Inc. $AMG

Lyrical Asset Management LP reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 551,587 shares of the asset manager’s stock after selling 28,248 shares during the period. Affiliated Managers Group makes up 2.2% of Lyrical Asset Management LP’s portfolio, making the stock its 21st biggest position. Lyrical Asset Management LP’s holdings in Affiliated Managers Group were worth $159,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in Affiliated Managers Group in the 4th quarter worth about $432,000. Syon Capital LLC increased its stake in Affiliated Managers Group by 30.1% during the 4th quarter. Syon Capital LLC now owns 1,287 shares of the asset manager’s stock valued at $371,000 after purchasing an additional 298 shares in the last quarter. Cookson Peirce & Co. Inc. raised its holdings in Affiliated Managers Group by 22.5% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,202 shares of the asset manager’s stock worth $347,000 after buying an additional 221 shares during the last quarter. Vestcor Inc lifted its stake in shares of Affiliated Managers Group by 23.5% in the fourth quarter. Vestcor Inc now owns 3,560 shares of the asset manager’s stock worth $1,026,000 after buying an additional 677 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Affiliated Managers Group by 9.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 31,850 shares of the asset manager’s stock worth $9,182,000 after buying an additional 2,800 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Down 0.0%

Shares of Affiliated Managers Group stock opened at $336.75 on Monday. Affiliated Managers Group, Inc. has a twelve month low of $179.79 and a twelve month high of $338.07. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $295.19 and its 200 day moving average is $294.09. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.37 EPS. Research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.16%.

Insider Transactions at Affiliated Managers Group

In other news, Director G. Staley Cates bought 1,500 shares of the stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMG. Barrington Research reissued an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $362.29.

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.