Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,078 shares of the asset manager's stock after selling 1,361 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of Affiliated Managers Group worth $3,038,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Affiliated Managers Group by 785.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after purchasing an additional 1,649 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Affiliated Managers Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager's stock worth $61,228,000 after buying an additional 2,264 shares in the last quarter. Dodge & Cox acquired a new position in Affiliated Managers Group during the fourth quarter worth about $1,202,000. Victory Capital Management Inc. boosted its position in Affiliated Managers Group by 4.8% during the fourth quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager's stock worth $21,937,000 after acquiring an additional 5,436 shares during the last quarter. Finally, Channing Capital Management LLC grew its stake in Affiliated Managers Group by 5.5% during the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock valued at $95,156,000 after acquiring an additional 26,654 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

AMG stock opened at $189.41 on Thursday. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The firm has a market cap of $5.38 billion, a PE ratio of 14.39, a PEG ratio of 0.63 and a beta of 1.08. The firm's 50 day moving average price is $176.04 and its 200-day moving average price is $174.69.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. The company had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. During the same quarter in the previous year, the business earned $5.37 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on AMG. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Bank of America cut 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. TD Cowen lowered their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Barrington Research dropped their target price 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. Finally, Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.

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