Affiliated Managers Group, Inc. $AMG Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners reduced its Affiliated Managers Group stake by 16.3% in the third quarter, selling 3,213 shares and retaining 16,444 shares valued at approximately $6.0 million.
• Institutional investors hold 95.3% of AMG’s outstanding shares, while several other funds increased their positions during the quarter.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $386.50; AMG recently traded near its 12-month high after beating quarterly earnings and revenue estimates.

Reinhart Partners LLC. cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,444 shares of the asset manager's stock after selling 3,213 shares during the period. Reinhart Partners LLC. owned about 0.06% of Affiliated Managers Group worth $6,012,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMG. Wedmont Private Capital lifted its position in shares of Affiliated Managers Group by 14.5% during the third quarter. Wedmont Private Capital now owns 883 shares of the asset manager's stock valued at $342,000 after purchasing an additional 112 shares in the last quarter. Diversified Management Inc. bought a new stake in Affiliated Managers Group in the 3rd quarter worth about $271,000. GAMMA Investing LLC increased its stake in Affiliated Managers Group by 5.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,674 shares of the asset manager's stock valued at $612,000 after buying an additional 81 shares during the last quarter. Private Client Services LLC lifted its position in shares of Affiliated Managers Group by 1.2% during the 3rd quarter. Private Client Services LLC now owns 3,693 shares of the asset manager's stock worth $1,350,000 after buying an additional 44 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Affiliated Managers Group by 7.0% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager's stock worth $200,000 after buying an additional 36 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMG. Zacks Research lowered Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Weiss Ratings raised Affiliated Managers Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. TD Cowen restated a "buy" rating and issued a $512.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, September 29th. Finally, Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and an average price target of $386.50.

Affiliated Managers Group Trading Up 0.2%

Shares of AMG stock opened at $387.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $10.03 billion, a P/E ratio of 13.44, a PEG ratio of 0.51 and a beta of 1.07. The company has a 50 day moving average of $366.27 and a 200-day moving average of $336.20. Affiliated Managers Group, Inc. has a 12-month low of $230.26 and a 12-month high of $393.42.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The business had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. During the same period in the prior year, the company earned $5.39 earnings per share. Affiliated Managers Group's revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 36.75 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.14%.

About Affiliated Managers Group

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.

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