Federated Hermes Inc. Reduces Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Federated Hermes Inc. lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 6,218 shares of the asset manager’s stock after selling 472 shares during the period. Federated Hermes Inc.’s holdings in Affiliated Managers Group were worth $942,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMG. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Affiliated Managers Group by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,633 shares of the asset manager’s stock valued at $1,156,000 after acquiring an additional 793 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in shares of Affiliated Managers Group by 7.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 6,872 shares of the asset manager’s stock worth $1,041,000 after acquiring an additional 476 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $576,000. Louisiana State Employees Retirement System acquired a new stake in shares of Affiliated Managers Group during the 4th quarter valued at approximately $1,438,000. Finally, Seascape Capital Management lifted its stake in Affiliated Managers Group by 5.6% during the fourth quarter. Seascape Capital Management now owns 14,055 shares of the asset manager’s stock worth $2,128,000 after purchasing an additional 749 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 1.6 %

Shares of NYSE:AMG opened at $158.64 on Thursday. The company’s 50-day moving average price is $161.36 and its 200 day moving average price is $148.89. The company has a market cap of $5.15 billion, a PE ratio of 9.14, a P/E/G ratio of 0.55 and a beta of 1.31. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65.

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

Affiliated Managers Group Announces Dividend

The firm also recently declared 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 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%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMG shares. Barrington Research increased their target price on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. TD Cowen initiated coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective on the stock.

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.