Channing Capital Management LLC Cuts Holdings in Affiliated Managers Group, Inc. $AMG

Channing Capital Management LLC lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,037 shares of the asset manager’s stock after selling 5,427 shares during the quarter. Affiliated Managers Group comprises 2.7% of Channing Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Channing Capital Management LLC owned approximately 1.50% of Affiliated Managers Group worth $101,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Citigroup Inc. lifted its stake in shares of Affiliated Managers Group by 0.8% in the third quarter. Citigroup Inc. now owns 9,363 shares of the asset manager’s stock worth $2,232,000 after buying an additional 77 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Affiliated Managers Group during the 3rd quarter worth $386,000. Syon Capital LLC bought a new stake in Affiliated Managers Group during the third quarter valued at about $236,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of Affiliated Managers Group by 103.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after purchasing an additional 10,200 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Affiliated Managers Group by 25.0% in the third quarter. PNC Financial Services Group Inc. now owns 2,999 shares of the asset manager’s stock worth $715,000 after purchasing an additional 599 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $287.58 on Friday. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.48 and a beta of 1.21. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $334.78. The business has a fifty day simple moving average of $305.75 and a 200 day simple moving average of $264.54. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The firm had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. During the same quarter in the previous year, the company earned $6.53 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group’s dividend payout ratio is 0.17%.

Wall Street Analysts Forecast Growth

AMG has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. The Goldman Sachs Group raised their price objective on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and an average target price of $350.14.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.