Affiliated Managers Group, Inc. $AMG Stake Lowered by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Affiliated Managers Group, Inc. by 33.6%, now owning approximately 0.24% of the company's shares, worth $11.63 million.
• Affiliated Managers Group reported $5.39 EPS for the last quarter, surpassing analysts' estimates, despite a 1.4% year-over-year decline in revenue.
• The firm announced a quarterly dividend of $0.01, with the next payout set for August 25th, and has a current average price target of $215.20 from analysts.

Algert Global LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,240 shares of the asset manager's stock after selling 35,099 shares during the quarter. Algert Global LLC owned about 0.24% of Affiliated Managers Group worth $11,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Brandywine Global Investment Management LLC increased its stake in shares of Affiliated Managers Group by 55.3% during the first quarter. Brandywine Global Investment Management LLC now owns 76,293 shares of the asset manager's stock valued at $12,820,000 after acquiring an additional 27,165 shares during the period. Sei Investments Co. grew its position in Affiliated Managers Group by 1.9% in the first quarter. Sei Investments Co. now owns 48,423 shares of the asset manager's stock worth $8,450,000 after buying an additional 904 shares during the last quarter. Russell Investments Group Ltd. grew its position in Affiliated Managers Group by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 59,236 shares of the asset manager's stock worth $9,954,000 after buying an additional 3,032 shares during the last quarter. Nuveen LLC acquired a new position in Affiliated Managers Group in the first quarter worth approximately $16,060,000. Finally, National Bank of Canada FI grew its position in Affiliated Managers Group by 12.6% in the first quarter. National Bank of Canada FI now owns 2,767 shares of the asset manager's stock worth $465,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

NYSE AMG traded up $6.3150 on Friday, hitting $224.6650. 99,013 shares of the stock were exchanged, compared to its average volume of 225,044. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $225.98. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.60 and a beta of 1.14. The company's 50-day moving average price is $204.69 and its two-hundred day moving average price is $181.39.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same period in the previous year, the company posted $4.67 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's payout ratio is presently 0.29%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.20.

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.