Envestnet Asset Management Inc. Sells 1,049 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Envestnet Asset Management Inc. lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,366 shares of the asset manager’s stock after selling 1,049 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Affiliated Managers Group worth $8,389,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Boston Partners grew its stake in shares of Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after purchasing an additional 373,696 shares during the period. Norges Bank bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $68,683,000. Empirical Asset Management LLC raised its position in shares of Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the period. Raymond James Financial Inc. bought a new position in Affiliated Managers Group during the 4th quarter worth approximately $28,818,000. Finally, Fisher Asset Management LLC grew its holdings in Affiliated Managers Group by 84.3% during the fourth quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock valued at $28,886,000 after purchasing an additional 71,458 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AMG. TD Cowen decreased their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Bank of America lowered their target price on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research dropped their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $192.40.

Affiliated Managers Group Stock Up 0.3 %

NYSE AMG opened at $156.05 on Friday. The business has a fifty day moving average price of $163.28 and a two-hundred day moving average price of $178.10. The stock has a market capitalization of $4.57 billion, a PE ratio of 10.33, a PEG ratio of 0.57 and a beta of 1.09. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $199.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. Equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 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 Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

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.