Lazard Asset Management LLC Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Lazard Asset Management LLC reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 89.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,392 shares of the asset manager's stock after selling 20,424 shares during the quarter. Lazard Asset Management LLC's holdings in Affiliated Managers Group were worth $441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew 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 valued at $26,000 after purchasing an additional 62 shares during the period. Private Trust Co. NA grew its stake in Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock valued at $40,000 after purchasing an additional 124 shares during the period. UMB Bank n.a. grew its stake in Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after purchasing an additional 69 shares during the period. New Age Alpha Advisors LLC bought a new position in Affiliated Managers Group in the 4th quarter valued at $70,000. Finally, Lingohr Asset Management GmbH bought a new position in Affiliated Managers Group in the 4th quarter valued at $204,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded up $3.20 on Tuesday, hitting $177.17. 262,402 shares of the stock were exchanged, compared to its average volume of 232,764. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.04 billion, a PE ratio of 11.73, a P/E/G ratio of 0.57 and a beta of 1.06. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The firm's 50 day moving average is $167.13 and its two-hundred day moving average is $175.23.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The business had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. During the same quarter last year, the company earned $5.37 EPS. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America reduced their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. 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. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Hold" and a consensus 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.