Affiliated Managers Group, Inc. (NYSE:AMG) is Kiltearn Partners LLP’s Largest Position

Kiltearn Partners LLP reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 16.2% during the third quarter, Holdings Channel reports. The institutional investor owned 464,514 shares of the asset manager’s stock after selling 89,500 shares during the quarter. Affiliated Managers Group comprises 11.2% of Kiltearn Partners LLP’s portfolio, making the stock its biggest holding. Kiltearn Partners LLP’s holdings in Affiliated Managers Group were worth $82,591,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Bridgewater Associates LP grew its holdings in shares of Affiliated Managers Group by 25.3% in the third quarter. Bridgewater Associates LP now owns 79,326 shares of the asset manager’s stock worth $14,104,000 after purchasing an additional 16,001 shares during the last quarter. Townsquare Capital LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $218,000. Goodman Financial Corp bought a new stake in Affiliated Managers Group in the 3rd quarter worth $14,035,000. Brooklyn Investment Group purchased a new position in shares of Affiliated Managers Group in the third quarter valued at about $49,000. Finally, Quantbot Technologies LP bought a new position in shares of Affiliated Managers Group during the third quarter valued at about $1,064,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.0 %

Affiliated Managers Group stock opened at $189.25 on Wednesday. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52. The company has a market cap of $5.72 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.69 and a beta of 1.18. The business has a 50-day simple moving average of $185.08 and a two-hundred day simple moving average of $171.46.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the business posted $4.08 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Bank of America raised their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group has an average rating of “Hold” and an average target price of $196.50.

About Affiliated Managers Group

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.