Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Prana Capital Management LP

Prana Capital Management LP decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 73.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,458 shares of the asset manager's stock after selling 56,454 shares during the period. Prana Capital Management LP owned approximately 0.07% of Affiliated Managers Group worth $3,783,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Affiliated Managers Group by 0.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager's stock worth $1,137,000 after buying an additional 55 shares during the period. Jones Financial Companies Lllp lifted its position in Affiliated Managers Group by 79.5% in the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after purchasing an additional 62 shares during the period. UMB Bank n.a. lifted its position in Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after purchasing an additional 69 shares during the period. Cetera Investment Advisers lifted its position in Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock valued at $536,000 after purchasing an additional 70 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Affiliated Managers Group by 1.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager's stock valued at $1,553,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Affiliated Managers Group Trading Down 0.5%

Shares of AMG opened at $181.62 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a 50 day simple moving average of $164.45 and a 200-day simple moving average of $175.95. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $199.52. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. During the same quarter last year, the business earned $5.37 earnings per share. Equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.30%.

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.

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