Ritholtz Wealth Management Sells 225 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Ritholtz Wealth Management reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,653 shares of the asset manager’s stock after selling 225 shares during the period. Ritholtz Wealth Management’s holdings in Affiliated Managers Group were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Affiliated Managers Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock valued at $593,935,000 after purchasing an additional 31,343 shares during the last quarter. Boston Partners lifted its stake in shares of Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after buying an additional 373,696 shares in the last quarter. Channing Capital Management LLC grew its holdings in shares of Affiliated Managers Group by 5.5% during the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock valued at $95,156,000 after buying an additional 26,654 shares during the last quarter. LSV Asset Management grew its holdings in shares of Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after buying an additional 187,290 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Affiliated Managers Group during the fourth quarter valued at approximately $68,683,000. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. TD Cowen dropped their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, Bank of America lowered their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $192.40.

Affiliated Managers Group Price Performance

Shares of AMG opened at $184.41 on Friday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 14.01, a PEG ratio of 0.62 and a beta of 1.08. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The business has a fifty day moving average of $174.30 and a 200 day moving average of $174.66.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to analysts’ expectations of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same quarter in the prior year, the business earned $5.37 EPS. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.30%.

About Affiliated Managers Group

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.