JPMorgan Chase & Co. Sells 5,383 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

JPMorgan Chase & Co. reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 176,730 shares of the asset manager’s stock after selling 5,383 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Affiliated Managers Group worth $31,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ensign Peak Advisors Inc boosted its stake in shares of Affiliated Managers Group by 0.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after acquiring an additional 60 shares during the period. Covestor Ltd lifted its holdings in Affiliated Managers Group by 21.4% during the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after purchasing an additional 90 shares during the period. Kendall Capital Management boosted its position in Affiliated Managers Group by 2.5% during the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock worth $646,000 after purchasing an additional 100 shares during the period. Finally, Foundry Partners LLC increased its holdings in shares of Affiliated Managers Group by 3.0% in the third quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock valued at $672,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMG shares. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $193.00 to $191.00 in a research note on Monday. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on 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, Barrington Research lowered 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Stock Down 2.1 %

Shares of NYSE:AMG opened at $184.53 on Tuesday. Affiliated Managers Group, Inc. has a 12-month low of $145.36 and a 12-month high of $199.52. The company’s 50 day moving average price is $186.37 and its two-hundred day moving average price is $177.55. The firm has a market cap of $5.58 billion, a PE ratio of 12.04, a PEG ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $4.08 EPS. On average, research analysts expect that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

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.