Pacer Advisors Inc. Sells 3,308 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Pacer Advisors Inc. decreased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 60.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,160 shares of the asset manager’s stock after selling 3,308 shares during the period. Pacer Advisors Inc.’s holdings in Affiliated Managers Group were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after buying an additional 102 shares during the period. Versant Capital Management Inc grew its position in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Private Trust Co. NA increased its stake in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock worth $51,000 after purchasing an additional 83 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Affiliated Managers Group during the first quarter worth $56,000. Finally, Rossby Financial LCC purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at $56,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMG. TD Cowen cut their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Cowen restated a “hold” rating on shares of Affiliated Managers Group in a research note on Monday. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $197.80.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $206.83 on Friday. The company has a 50 day moving average price of $194.32 and a 200-day moving average price of $178.55. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $220.00. The stock has a market capitalization of $5.88 billion, a PE ratio of 15.10, a PEG ratio of 0.63 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.13. The business had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. Affiliated Managers Group had a return on equity of 16.03% and a net margin of 21.79%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.67 EPS. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 11th. Affiliated Managers Group’s dividend payout ratio is presently 0.29%.

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.