Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,149 shares of the asset manager's stock after selling 3,810 shares during the period. Bank of New York Mellon Corp owned approximately 0.96% of Affiliated Managers Group worth $46,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Jones Financial Companies Lllp raised its stake in Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at about $56,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMG shares. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Barrington Research cut their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, TD Cowen cut their price target on 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Affiliated Managers Group has an average rating of "Hold" and a consensus target price of $197.80.

Affiliated Managers Group Trading Up 3.7%

NYSE:AMG traded up $7.44 during trading hours on Thursday, hitting $211.07. 311,816 shares of the stock were exchanged, compared to its average volume of 219,666. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $211.72. The firm's fifty day moving average price is $187.69 and its 200 day moving average price is $176.45. The company has a market cap of $6.00 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.62 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. The business 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 15.91% and a net margin of 21.31%. During the same period in the previous year, the firm posted $5.37 EPS. Equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Monday, May 19th. Affiliated Managers Group's dividend payout ratio is currently 0.30%.

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.