Allspring Global Investments Holdings LLC Sells 9,590 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Allspring Global Investments Holdings LLC lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 35.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,468 shares of the asset manager’s stock after selling 9,590 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Affiliated Managers Group were worth $2,645,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMG. Morgan Stanley grew its position in Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after acquiring an additional 41,120 shares during the last quarter. LGT Capital Partners LTD. grew its position in Affiliated Managers Group by 28.3% in the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock valued at $59,558,000 after acquiring an additional 86,670 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Affiliated Managers Group by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 15,256 shares of the asset manager’s stock worth $2,310,000 after buying an additional 6,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $1,000,000. Finally, North Star Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 0.9% in the 3rd quarter. North Star Asset Management Inc. now owns 97,254 shares of the asset manager’s stock worth $12,676,000 after buying an additional 861 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $158.50 on Friday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 0.55 and a beta of 1.31. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $169.65. The business has a fifty day moving average price of $160.81 and a 200 day moving average price of $147.23.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83. The firm had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $7.28 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMG. TD Cowen began coverage on Affiliated Managers Group in a report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 target price for the company. Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th.

Affiliated Managers Group Company Profile

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.