CenterBook Partners LP Sells 3,696 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• CenterBook Partners LP reduced its stake in Affiliated Managers Group by 65.2%, selling 3,696 shares, leaving them with 1,973 shares valued at approximately $332,000.
• Affiliated Managers Group reported an EPS of $5.39 for the last quarter, exceeding estimates of $5.26, but revenue decreased by 1.4% year-over-year, totaling $493.20 million.
• The company announced a quarterly dividend of $0.01 per share, reflecting an annualized dividend yield of 0.0%, with the ex-dividend date set for August 11th.

CenterBook Partners LP trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 65.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,973 shares of the asset manager's stock after selling 3,696 shares during the period. CenterBook Partners LP's holdings in Affiliated Managers Group were worth $332,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC boosted its stake in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after buying an additional 102 shares during the last quarter. Versant Capital Management Inc boosted 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 worth $30,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA boosted 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 worth $51,000 after buying an additional 83 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth about $56,000. Finally, Rossby Financial LCC acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth about $56,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their price target for the company from $214.00 to $255.00 in a report on Monday, August 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.20.

Affiliated Managers Group Stock Up 0.9%

Shares of AMG traded up $1.82 during mid-day trading on Friday, hitting $211.58. 102,738 shares of the company's stock were exchanged, compared to its average volume of 186,600. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $220.00. The stock's 50-day simple moving average is $197.99 and its 200-day simple moving average is $179.37. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.03%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $4.67 EPS. Analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th 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 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's payout ratio is 0.29%.

About Affiliated Managers Group

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.