Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. lessened its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 124,241 shares of the asset manager's stock after selling 7,740 shares during the period. Affiliated Managers Group makes up 1.3% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 23rd largest holding. 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.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMG. The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Bank of America cut 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 lowered their price objective 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. TD Cowen cut their target price 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, StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $192.40.

Affiliated Managers Group Trading Up 0.2 %

Shares of AMG stock traded up $0.31 during mid-day trading on Tuesday, hitting $172.91. 269,795 shares of the company's stock were exchanged, compared to its average volume of 230,184. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.57 and a beta of 1.06. The stock has a 50-day simple moving average of $162.50 and a two-hundred day simple moving average of $176.26. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two 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.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS 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%. Equities analysts expect 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 was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

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.