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

Oppenheimer Asset Management Inc. reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMG. Blue Trust Inc. lifted its holdings in shares of Affiliated Managers Group by 3.9% during the first quarter. Blue Trust Inc. now owns 4,623 shares of the asset manager's stock worth $777,000 after purchasing an additional 175 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 785.2% during the first 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 period. Wedge Capital Management L L P NC lifted its holdings in shares of Affiliated Managers Group by 16.5% during the first quarter. Wedge Capital Management L L P NC now owns 8,534 shares of the asset manager's stock worth $1,434,000 after purchasing an additional 1,207 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 6.8% during the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock worth $197,000 after purchasing an additional 75 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Affiliated Managers Group by 14,091.8% during the first quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after purchasing an additional 125,135 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock traded up $5.45 during midday trading on Friday, reaching $197.61. 415,010 shares of the company were exchanged, compared to its average volume of 220,669. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.66 and a beta of 1.08. The firm's 50-day simple moving average is $177.59 and its 200-day simple moving average is $174.62. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million during 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 quarter last year, the business posted $5.37 EPS. On average, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMG shares. TD Cowen reduced their target price on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $197.00 to $218.00 in a report on Friday. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday. Finally, Barrington Research reduced 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of "Hold" and a consensus price target of $197.80.

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.