Affiliated Managers Group, Inc. $AMG Stake Cut by Ariel Investments LLC

Ariel Investments LLC trimmed its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,355,075 shares of the asset manager’s stock after selling 52,076 shares during the period. Affiliated Managers Group accounts for approximately 3.0% of Ariel Investments LLC’s portfolio, making the stock its 6th largest position. Ariel Investments LLC owned about 4.77% of Affiliated Managers Group worth $266,638,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMG. Voya Investment Management LLC raised its position in Affiliated Managers Group by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock worth $4,823,000 after buying an additional 9,845 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Affiliated Managers Group by 79.4% during the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after acquiring an additional 266 shares during the period. Cetera Investment Advisers increased its stake in shares of Affiliated Managers Group by 89.1% during the first quarter. Cetera Investment Advisers now owns 5,481 shares of the asset manager’s stock worth $921,000 after acquiring an additional 2,583 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new position in Affiliated Managers Group during the second quarter worth about $226,000. Finally, QRG Capital Management Inc. acquired a new stake in Affiliated Managers Group in the second quarter valued at about $269,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $271.68 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $7.64 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.22. The firm has a 50-day moving average price of $251.14 and a two-hundred day moving average price of $224.28. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $276.40.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same quarter in the prior year, the firm earned $4.82 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research 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 announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued 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 Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Wall Street Analyst Weigh In

AMG has been the topic of several recent analyst reports. Bank of America boosted their target price on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a report on Tuesday, November 4th. The Goldman Sachs Group raised their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $290.33.

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.