Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,959 shares of the asset manager’s stock after selling 12,882 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Affiliated Managers Group worth $51,955,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd raised its holdings in Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after purchasing an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 90 shares during the period. GAMMA Investing LLC increased its holdings in shares of Affiliated Managers Group by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock valued at $164,000 after acquiring an additional 94 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Affiliated Managers Group by 1.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock valued at $1,553,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMG. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. 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 company from $193.00 to $191.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Barrington Research lifted their price objective on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $198.40.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $165.89 on Thursday. The firm’s fifty day moving average price is $179.38 and its 200 day moving average price is $181.01. Affiliated Managers Group, Inc. has a 1-year low of $147.13 and a 1-year high of $199.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.57 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 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.