Allegheny Financial Group Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Allegheny Financial Group decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 52.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,373 shares of the asset manager's stock after selling 1,530 shares during the quarter. Allegheny Financial Group's holdings in Affiliated Managers Group were worth $254,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMG. Oregon Public Employees Retirement Fund grew its stake in Affiliated Managers Group by 0.9% in the 4th 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 in the last quarter. Jones Financial Companies Lllp grew 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 worth $26,000 after acquiring an additional 62 shares in the last quarter. UMB Bank n.a. grew 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 worth $47,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC increased its stake in Affiliated Managers Group by 11.8% in the fourth quarter. GAMMA Investing LLC now owns 888 shares of the asset manager's stock valued at $164,000 after acquiring an additional 94 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Affiliated Managers Group by 1.2% during 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 in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Up 4.4 %

Shares of NYSE AMG opened at $174.26 on Friday. The firm's fifty day moving average is $162.28 and its 200 day moving average is $176.69. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $199.52. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.57 and a beta of 1.09.

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 (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, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio is currently 0.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMG. StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Bank of America lowered 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 report on Thursday, April 3rd. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, TD Cowen lowered their price target 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Affiliated Managers Group has a consensus rating of "Moderate Buy" and a consensus target price of $192.40.

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.

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