Cresset Asset Management LLC Cuts Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Cresset Asset Management LLC lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,922 shares of the asset manager's stock after selling 6,260 shares during the quarter. Cresset Asset Management LLC's holdings in Affiliated Managers Group were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Affiliated Managers Group by 1.0% during the fourth 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 boosted 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 valued at $218,975,000 after purchasing an additional 373,696 shares in the last quarter. Channing Capital Management LLC boosted its position in Affiliated Managers Group by 5.5% during 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 in the last quarter. LSV Asset Management raised its stake in Affiliated Managers Group by 79.1% in the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock valued at $78,405,000 after buying an additional 187,290 shares during the last quarter. Finally, Norges Bank acquired a new stake in Affiliated Managers Group in the fourth quarter worth about $68,683,000. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock traded up $2.42 on Friday, reaching $183.38. 337,075 shares of the stock were exchanged, compared to its average volume of 231,530. 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, Inc. has a twelve month low of $139.22 and a twelve month high of $199.52. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.57 and a beta of 1.06. The business has a 50 day moving average price of $165.43 and a two-hundred day moving average price of $175.77.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS 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 firm 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 earnings per share. Analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMG shares. Bank of America lowered their price target 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. StockNews.com raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. TD Cowen lowered their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Barrington Research lowered their price target on 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.