Basswood Capital Management L.L.C. Has $22.98 Million Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Basswood Capital Management L.L.C. cut its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 124,241 shares of the asset manager's stock after selling 7,740 shares during the period. Affiliated Managers Group accounts for about 1.3% of Basswood Capital Management L.L.C.'s holdings, making the stock its 23rd biggest position. Basswood Capital Management L.L.C. owned 0.41% of Affiliated Managers Group worth $22,975,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Affiliated Managers Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock valued at $593,935,000 after purchasing an additional 31,343 shares in the last quarter. Boston Partners grew its stake in shares of Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock valued at $218,975,000 after acquiring an additional 373,696 shares in the last quarter. Channing Capital Management LLC boosted its holdings in Affiliated Managers Group by 5.5% in the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock valued at $95,156,000 after purchasing an additional 26,654 shares during the last quarter. LSV Asset Management raised its position in shares of Affiliated Managers Group by 79.1% in the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock valued at $78,405,000 after purchasing an additional 187,290 shares in the last quarter. Finally, Norges Bank bought a new position in Affiliated Managers Group during the 4th quarter valued at $68,683,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of AMG traded down $2.39 during trading hours on Friday, hitting $178.77. 149,416 shares of the company were exchanged, compared to its average volume of 228,390. The firm has a fifty day simple moving average of $162.86 and a 200-day simple moving average of $176.19. The company has a market capitalization of $5.15 billion, a PE ratio of 11.84, a PEG ratio of 0.57 and a beta of 1.06. 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, Inc. has a one year low of $139.22 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly 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. The firm had revenue of $496.60 million for the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same quarter last year, the business posted $5.37 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMG has been the topic of several research reports. StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. 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 research note on Tuesday, April 8th. TD Cowen dropped their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Bank of America reduced their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.