Allianz Asset Management GmbH Sells 34,158 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Allianz Asset Management GmbH lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 309,527 shares of the asset manager's stock after selling 34,158 shares during the period. Allianz Asset Management GmbH owned 1.08% of Affiliated Managers Group worth $52,010,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Millstone Evans Group LLC lifted its stake in Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after purchasing an additional 102 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after buying an additional 75 shares during the period. Private Trust Co. NA lifted its position 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 valued at $51,000 after buying an additional 83 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Affiliated Managers Group during the 1st quarter worth $56,000. Finally, Rossby Financial LCC bought a new position in shares of Affiliated Managers Group during the 1st quarter worth $56,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMG shares. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $197.00 to $218.00 in a research note on Friday, June 27th. TD Cowen cut their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Bank of America lowered their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Four 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, the stock has a consensus rating of "Hold" and an average price target of $197.80.

Affiliated Managers Group Trading Up 2.3%

Shares of Affiliated Managers Group stock traded up $4.89 on Friday, reaching $216.06. The stock had a trading volume of 258,552 shares, compared to its average volume of 234,218. The business's 50 day moving average is $191.10 and its two-hundred day moving average is $177.48. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $216.20. The company has a market cap of $6.14 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09.

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

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.30%.

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.