Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 54.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,117 shares of the asset manager’s stock after selling 3,734 shares during the quarter. Seven Eight Capital LP’s holdings in Affiliated Managers Group were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Affiliated Managers Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock worth $116,764,000 after purchasing an additional 6,265 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Affiliated Managers Group by 22.2% during the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock worth $77,521,000 after purchasing an additional 92,913 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 688.9% during the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock worth $71,855,000 after purchasing an additional 414,389 shares during the period. Norges Bank acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth $66,223,000. Finally, LGT Capital Partners LTD. lifted its holdings in shares of Affiliated Managers Group by 28.3% during the fourth quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock worth $59,558,000 after purchasing an additional 86,670 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMG has been the subject of several recent research reports. TD Cowen increased their price target on Affiliated Managers Group from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barrington Research reiterated an “outperform” rating and issued a $190.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, July 11th.

Affiliated Managers Group Stock Performance

NYSE:AMG traded down $2.41 during trading hours on Wednesday, hitting $169.27. The company’s stock had a trading volume of 314,331 shares, compared to its average volume of 263,436. The business’s 50-day moving average is $159.29 and its two-hundred day moving average is $158.32. The company has a market capitalization of $5.39 billion, a PE ratio of 9.50, a PEG ratio of 0.60 and a beta of 1.22. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $174.74.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter in the prior year, the business posted $4.18 earnings per share. As a group, analysts predict that Affiliated Managers Group, Inc. will post 21.59 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.01 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

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.