Congress Wealth Management LLC DE Sells 2,345 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Congress Wealth Management LLC DE lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 64.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,307 shares of the asset manager’s stock after selling 2,345 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Affiliated Managers Group were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Affiliated Managers Group during the third quarter worth approximately $321,000. Cerity Partners LLC lifted its holdings in Affiliated Managers Group by 37.1% during the 3rd quarter. Cerity Partners LLC now owns 10,233 shares of the asset manager’s stock worth $1,820,000 after purchasing an additional 2,767 shares during the last quarter. Bank of Montreal Can boosted its stake in Affiliated Managers Group by 328.2% in the 3rd quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock valued at $12,420,000 after purchasing an additional 54,003 shares during the period. Quantbot Technologies LP acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $1,064,000. Finally, Brooklyn Investment Group bought a new position in Affiliated Managers Group during the 3rd quarter worth $49,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 1.9 %

Shares of Affiliated Managers Group stock opened at $167.44 on Friday. The firm’s 50-day moving average price is $172.65 and its two-hundred day moving average price is $180.29. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.57 and a beta of 1.18. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 12-month low of $147.13 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) 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, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors 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 dividend payout ratio is currently 0.26%.

Wall Street Analyst Weigh In

AMG has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $193.00 to $191.00 in a research note on Monday, January 6th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Barrington Research raised their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.40.

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.