Redwood Investment Management LLC Sells 1,545 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Redwood Investment Management LLC reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,706 shares of the asset manager's stock after selling 1,545 shares during the quarter. Redwood Investment Management LLC's holdings in Affiliated Managers Group were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AMG. Jones Financial Companies Lllp raised its holdings in Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after acquiring an additional 62 shares during the period. Private Trust Co. NA grew its position in shares of Affiliated Managers Group by 131.9% in the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock valued at $40,000 after purchasing an additional 124 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Affiliated Managers Group by 37.1% during the 4th 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. New Age Alpha Advisors LLC purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $70,000. Finally, Lingohr Asset Management GmbH purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $204,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMG. Barrington Research reduced their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. TD Cowen dropped their price target on 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, Bank of America cut their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of "Hold" and an average target price of $192.40.

Affiliated Managers Group Price Performance

AMG traded down $5.10 during trading on Wednesday, reaching $176.25. The stock had a trading volume of 94,255 shares, compared to its average volume of 231,515. The business has a 50-day moving average of $166.30 and a 200-day moving average of $175.46. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The stock has a market cap of $5.01 billion, a PE ratio of 11.69, a PEG ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The company had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. During the same quarter in the previous year, the company posted $5.37 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid 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 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.