Wellington Management Group LLP Sells 416 Shares of Affiliated Managers Group, Inc. $AMG

Wellington Management Group LLP cut its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,243 shares of the asset manager’s stock after selling 416 shares during the quarter. Wellington Management Group LLP’s holdings in Affiliated Managers Group were worth $1,217,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC grew its holdings in shares of Affiliated Managers Group by 154.5% during 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 in the last quarter. Versant Capital Management Inc boosted its position 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 valued at $30,000 after purchasing an additional 75 shares during the last quarter. Private Trust Co. NA boosted its position in Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares during the last quarter. Rossby Financial LCC acquired a new position in Affiliated Managers Group during the first quarter valued at approximately $56,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Affiliated Managers Group during the first quarter valued at approximately $56,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Down 1.2%

Shares of NYSE AMG opened at $224.77 on Monday. The firm has a market cap of $6.39 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $229.40. The business’s 50 day moving average is $209.76 and its 200-day moving average is $183.54.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.67 earnings per share. Analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.29%.

Analyst Ratings Changes

Several brokerages recently commented on AMG. The Goldman Sachs Group raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, Wall Street Zen cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Buy” and an average target price of $215.20.

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.