Affiliated Managers Group, Inc. (NYSE:AMG) Stock Position Lowered by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lessened its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,982 shares of the asset manager’s stock after selling 78 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Affiliated Managers Group were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of Affiliated Managers Group by 9.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 39,364 shares of the asset manager’s stock worth $6,150,000 after acquiring an additional 3,518 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after acquiring an additional 30,059 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Affiliated Managers Group by 59.1% in the 2nd quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock worth $14,092,000 after acquiring an additional 33,500 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Affiliated Managers Group by 193.9% in the 2nd quarter. Hsbc Holdings PLC now owns 39,405 shares of the asset manager’s stock worth $6,154,000 after acquiring an additional 25,998 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Affiliated Managers Group by 178.9% in the 2nd quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock worth $823,000 after acquiring an additional 3,380 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMG shares. Barrington Research decreased their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Trading Up 0.8 %

AMG opened at $187.21 on Friday. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.60 and a beta of 1.15. Affiliated Managers Group, Inc. has a 1 year low of $147.13 and a 1 year high of $199.52. The stock has a fifty day moving average price of $185.37 and a 200 day moving average price of $178.82.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data 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 firm had revenue of $525.20 million for 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%. Affiliated Managers Group’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.08 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 20.9 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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