Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 38.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,196 shares of the asset manager’s stock after selling 2,005 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Affiliated Managers Group were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMG. Parallel Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 86.8% during the 2nd quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Affiliated Managers Group by 57.7% during the 2nd quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 94 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $38,000. Lazard Asset Management LLC lifted its holdings in shares of Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 96.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMG shares. Barrington Research lifted their target price on shares of Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affiliated Managers Group from $161.00 to $171.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. The Goldman Sachs Group started coverage on shares of Affiliated Managers Group in a research note on Monday. They set a “buy” rating and a $182.00 price target on the stock. Finally, Credit Suisse Group lifted their price target on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the stock an “outperform” rating in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.64.

Affiliated Managers Group Stock Performance

AMG opened at $156.84 on Wednesday. The company has a 50-day moving average of $127.36 and a 200-day moving average of $126.62. The company has a market capitalization of $5.91 billion, a P/E ratio of 11.98, a PEG ratio of 0.98 and a beta of 1.28. Affiliated Managers Group, Inc. has a 1-year low of $108.12 and a 1-year high of $178.10.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, November 16th. Affiliated Managers Group’s payout ratio is currently 0.31%.

Affiliated Managers Group Profile

(Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.

Further Reading

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

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