Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,394 shares of the asset manager’s stock after selling 969 shares during the period. Amalgamated Bank’s holdings in Affiliated Managers Group were worth $2,251,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Versant Capital Management Inc lifted its stake in Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Affiliated Managers Group in the fourth quarter worth $70,000. Parallel Advisors LLC boosted its holdings in Affiliated Managers Group by 6.8% in the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock worth $197,000 after purchasing an additional 75 shares during the period. Finally, Lingohr Asset Management GmbH bought a new stake in Affiliated Managers Group during the fourth quarter valued at $204,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMG has been the subject of several research reports. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Barrington Research decreased their target price on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. 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 report on Thursday, April 3rd. Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $197.80.

Affiliated Managers Group Trading Up 0.5%

NYSE AMG opened at $201.45 on Friday. The company has a 50-day moving average price of $181.64 and a two-hundred day moving average price of $175.21. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $202.67. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.09.

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

Affiliated Managers Group Dividend Announcement

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

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.