Bank of New York Mellon Corp Sells 19,069 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of New York Mellon Corp cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,212 shares of the asset manager’s stock after selling 19,069 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.10% of Affiliated Managers Group worth $46,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Affiliated Managers Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,645,687 shares of the asset manager’s stock worth $513,859,000 after acquiring an additional 30,330 shares in the last quarter. BlackRock Inc. boosted its stake in Affiliated Managers Group by 1.0% during the third quarter. BlackRock Inc. now owns 3,411,411 shares of the asset manager’s stock worth $381,565,000 after acquiring an additional 32,947 shares in the last quarter. Clarkston Capital Partners LLC boosted its stake in Affiliated Managers Group by 21.1% during the second quarter. Clarkston Capital Partners LLC now owns 2,028,182 shares of the asset manager’s stock worth $236,486,000 after acquiring an additional 353,109 shares in the last quarter. State Street Corp boosted its stake in Affiliated Managers Group by 4.2% during the first quarter. State Street Corp now owns 1,352,135 shares of the asset manager’s stock worth $190,583,000 after acquiring an additional 54,161 shares in the last quarter. Finally, Ariel Investments LLC boosted its stake in Affiliated Managers Group by 4.4% during the first quarter. Ariel Investments LLC now owns 937,224 shares of the asset manager’s stock worth $132,102,000 after acquiring an additional 39,576 shares in the last quarter. 95.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Barrington Research upped their price objective on shares of Affiliated Managers Group from $155.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. The Goldman Sachs Group assumed coverage on shares of Affiliated Managers Group in a report on Monday, November 21st. They set a “buy” rating and a $182.00 price objective on the stock. StockNews.com downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 28th. Finally, Jefferies Financial Group upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $192.00 in a report on Monday, November 28th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Affiliated Managers Group presently has an average rating of “Buy” and an average target price of $185.21.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $144.49 on Friday. The firm has a 50-day moving average of $164.58 and a 200-day moving average of $146.31. The company has a market cap of $5.18 billion, a P/E ratio of 5.49, a P/E/G ratio of 0.70 and a beta of 1.35. Affiliated Managers Group, Inc. has a one year low of $108.12 and a one year high of $180.63.

Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its earnings results on Monday, February 6th. The asset manager reported $7.28 EPS for the quarter, beating the consensus estimate of $7.03 by $0.25. The company had revenue of $539.60 million during the quarter, compared to the consensus estimate of $599.42 million. Affiliated Managers Group had a net margin of 49.18% and a return on equity of 21.29%. During the same quarter in the prior year, the company posted $6.10 earnings per share. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 19.19 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were issued a $0.01 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.15%.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.