Man Group plc Decreases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Man Group plc reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 24.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 66,987 shares of the asset manager’s stock after selling 22,193 shares during the period. Man Group plc’s holdings in Affiliated Managers Group were worth $12,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Affiliated Managers Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after buying an additional 2,264 shares during the last quarter. Empirical Asset Management LLC increased its stake in shares of Affiliated Managers Group by 10,522.8% during the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the last quarter. Dodge & Cox acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $1,202,000. Victory Capital Management Inc. increased its stake in shares of Affiliated Managers Group by 4.8% during the 4th quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager’s stock valued at $21,937,000 after acquiring an additional 5,436 shares during the last quarter. Finally, Channing Capital Management LLC increased its stake in shares of Affiliated Managers Group by 5.5% during the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock valued at $95,156,000 after acquiring an additional 26,654 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America decreased their target price on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Barrington Research decreased their price target on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, TD Cowen cut their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.40.

Affiliated Managers Group Stock Performance

AMG stock opened at $183.38 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $165.43 and its 200 day simple moving average is $175.62. The firm has a market cap of $5.21 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period last year, the company earned $5.37 earnings per share. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.30%.

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.