Ironwood Investment Counsel LLC Sells 765 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Ironwood Investment Counsel LLC lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 23.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,515 shares of the asset manager’s stock after selling 765 shares during the period. Ironwood Investment Counsel LLC’s holdings in Affiliated Managers Group were worth $421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in Affiliated Managers Group by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after purchasing an additional 72 shares during the period. Denali Advisors LLC raised its stake in shares of Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Affiliated Managers Group in the fourth quarter worth $62,000. Quadrant Capital Group LLC increased its position in Affiliated Managers Group by 45.6% during the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after acquiring an additional 185 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMG. Barrington Research reissued an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a report on Thursday, July 11th. TD Cowen increased their price target on Affiliated Managers Group from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, July 8th.

Affiliated Managers Group Price Performance

NYSE AMG traded up $3.35 during midday trading on Monday, hitting $171.29. 209,355 shares of the company traded hands, compared to its average volume of 263,522. The company has a market cap of $5.46 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.59 and a beta of 1.22. The company’s 50-day simple moving average is $159.03 and its 200-day simple moving average is $158.16. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $174.74.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same quarter last year, the firm earned $4.18 EPS. On average, research analysts predict that Affiliated Managers Group, Inc. will post 21.59 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.22%.

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.