Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 31.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,993 shares of the asset manager’s stock after selling 1,390 shares during the period. Stifel Financial Corp’s holdings in Affiliated Managers Group were worth $532,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter worth about $30,000. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $47,000. Finally, Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group in the 3rd quarter valued at approximately $47,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen lowered 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 report on Tuesday, November 5th. Barrington Research lowered their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $189.47 on Friday. Affiliated Managers Group, Inc. has a one year low of $145.36 and a one year high of $199.52. The stock’s fifty day simple moving average is $187.18 and its 200 day simple moving average is $175.60. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data 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 business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period in the prior year, the firm posted $4.08 EPS. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 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.