Fmr LLC Lowers Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Fmr LLC lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 57.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,501 shares of the asset manager’s stock after selling 311,618 shares during the period. Fmr LLC owned 0.76% of Affiliated Managers Group worth $40,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMG. CWM LLC increased its stake in Affiliated Managers Group by 8.8% in the 2nd quarter. CWM LLC now owns 2,720 shares of the asset manager’s stock worth $425,000 after acquiring an additional 220 shares during the last quarter. Diversified Trust Co purchased a new stake in Affiliated Managers Group in the second quarter valued at approximately $1,293,000. Blue Trust Inc. raised its stake in Affiliated Managers Group by 107.8% in the second quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 499 shares in the last quarter. Raymond James & Associates lifted its position in Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after purchasing an additional 20,514 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Affiliated Managers Group by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock worth $1,269,000 after buying an additional 150 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $184.42 on Monday. Affiliated Managers Group, Inc. has a 52-week low of $135.22 and a 52-week high of $199.52. The company has a fifty day moving average of $186.80 and a 200-day moving average of $173.24. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the firm earned $4.08 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMG shares. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research lowered their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $196.50.

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.