American Century Companies Inc. Reduces Stake in Affiliated Managers Group, Inc. $AMG

American Century Companies Inc. reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 83.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,448 shares of the asset manager's stock after selling 42,554 shares during the quarter. American Century Companies Inc.'s holdings in Affiliated Managers Group were worth $1,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMG. Millennium Management LLC increased its stake in Affiliated Managers Group by 119.2% in the 4th quarter. Millennium Management LLC now owns 305,497 shares of the asset manager's stock worth $56,493,000 after acquiring an additional 166,144 shares during the last quarter. Bank of America Corp DE increased its stake in Affiliated Managers Group by 541.7% in the 4th quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager's stock worth $34,401,000 after acquiring an additional 157,042 shares during the last quarter. GAMMA Investing LLC increased its stake in Affiliated Managers Group by 14,091.8% in the 1st quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after acquiring an additional 125,135 shares during the last quarter. Nuveen LLC bought a new position in Affiliated Managers Group in the 1st quarter worth about $16,060,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Affiliated Managers Group by 210.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,471 shares of the asset manager's stock worth $25,051,000 after acquiring an additional 91,819 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Performance

AMG traded down $2.97 on Friday, hitting $230.09. 119,627 shares of the company were exchanged, compared to its average volume of 162,403. The firm has a fifty day simple moving average of $213.73 and a two-hundred day simple moving average of $185.52. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $235.00. The stock has a market capitalization of $6.54 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19.

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. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. During the same period last year, the company earned $4.67 EPS. Affiliated Managers Group's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $236.00 to $331.00 in a research note on Tuesday, September 2nd. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $242.40.

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.