Quarry LP Decreases Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Quarry LP decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 59.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372 shares of the asset manager’s stock after selling 555 shares during the quarter. Quarry LP’s holdings in Affiliated Managers Group were worth $66,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMG. CWM LLC boosted its stake in shares of Affiliated Managers Group by 8.8% during the 2nd quarter. CWM LLC now owns 2,720 shares of the asset manager’s stock worth $425,000 after acquiring an additional 220 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $1,293,000. Blue Trust Inc. lifted its stake in Affiliated Managers Group by 107.8% in the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after buying an additional 499 shares in the last quarter. Raymond James & Associates lifted its stake in Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after buying an additional 20,514 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Affiliated Managers Group by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock valued at $1,269,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMG. Barrington Research reduced 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. 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 note on Monday, November 11th. Finally, TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their target price for the company 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 given a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $184.42 on Monday. The stock has a fifty day moving average of $186.80 and a two-hundred day moving average of $173.24. The company has a market capitalization of $5.58 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15. Affiliated Managers Group, Inc. has a fifty-two week low of $135.22 and a fifty-two week high of $199.52.

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

Affiliated Managers Group Announces Dividend

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

Affiliated Managers Group 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.