Mackenzie Financial Corp Sells 377 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Mackenzie Financial Corp lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,133 shares of the asset manager’s stock after selling 377 shares during the period. Mackenzie Financial Corp’s holdings in Affiliated Managers Group were worth $929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in Affiliated Managers Group during the fourth quarter valued at approximately $204,000. Quent Capital LLC raised its position in Affiliated Managers Group by 5.4% during the fourth quarter. Quent Capital LLC now owns 1,354 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 69 shares in the last quarter. Nilsine Partners LLC raised its position in Affiliated Managers Group by 8.0% during the third quarter. Nilsine Partners LLC now owns 1,793 shares of the asset manager’s stock valued at $234,000 after acquiring an additional 133 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Affiliated Managers Group during the fourth quarter valued at approximately $260,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barrington Research increased their price target on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. TD Cowen assumed coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target on the stock.

Affiliated Managers Group Stock Down 1.5 %

Shares of AMG stock opened at $159.58 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65. The business’s 50 day moving average is $161.19 and its two-hundred day moving average is $147.91. The company has a market cap of $5.18 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.83. The business had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company posted $7.28 earnings per share. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 22.03 EPS 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. Stockholders of record on Thursday, February 15th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.23%.

Affiliated Managers Group 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.