Ironwood Investment Counsel LLC Sells 125 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Ironwood Investment Counsel LLC reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,365 shares of the asset manager’s stock after selling 125 shares during the period. Ironwood Investment Counsel LLC’s holdings in Affiliated Managers Group were worth $420,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group during the 2nd quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in shares of Affiliated Managers Group in the third quarter worth about $30,000. UMB Bank n.a. raised its stake in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group in the second quarter worth about $47,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Affiliated Managers Group in the third quarter worth about $47,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barrington Research dropped their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $196.50.

Affiliated Managers Group Price Performance

AMG opened at $187.54 on Friday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. The firm has a 50 day simple moving average of $185.98 and a 200 day simple moving average of $172.13. Affiliated Managers Group, Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The business had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $4.08 earnings per share. As a group, analysts expect that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

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.