Ariel Investments LLC Sells 28,234 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Ariel Investments LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,423,927 shares of the asset manager's stock after selling 28,234 shares during the quarter. Affiliated Managers Group comprises about 2.8% of Ariel Investments LLC's investment portfolio, making the stock its 4th biggest holding. Ariel Investments LLC owned 4.71% of Affiliated Managers Group worth $263,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at $679,000. Northern Trust Corp lifted its holdings in Affiliated Managers Group by 8.4% in the 4th quarter. Northern Trust Corp now owns 349,611 shares of the asset manager's stock valued at $64,650,000 after acquiring an additional 26,990 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $3,685,000. North Reef Capital Management LP acquired a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $5,064,000. Finally, Voya Investment Management LLC raised its holdings in shares of Affiliated Managers Group by 124.3% in the 4th quarter. Voya Investment Management LLC now owns 18,858 shares of the asset manager's stock worth $3,487,000 after purchasing an additional 10,450 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded up $6.85 during trading on Thursday, hitting $182.07. 161,207 shares of the company's stock traded hands, compared to its average volume of 229,189. The company has a market cap of $5.24 billion, a PE ratio of 12.06, a PEG ratio of 0.57 and a beta of 1.06. The firm's fifty day moving average price is $162.58 and its 200 day moving average price is $176.26. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month 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.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on AMG. TD Cowen reduced their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Bank of America lowered their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barrington Research cut their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of "Moderate Buy" and a consensus price target of $192.40.

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.