Ameriprise Financial Inc. Sells 3,199 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Ameriprise Financial Inc. cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,810 shares of the asset manager's stock after selling 3,199 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.13% of Affiliated Managers Group worth $6,992,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMG. Jones Financial Companies Lllp lifted its holdings in shares of Affiliated Managers Group by 79.5% in the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after buying an additional 62 shares during the period. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares during the period. UMB Bank n.a. raised its position in Affiliated Managers Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after buying an additional 69 shares during the period. New Age Alpha Advisors LLC acquired a new position in Affiliated Managers Group during the fourth quarter valued at $70,000. Finally, Lingohr Asset Management GmbH acquired a new position in Affiliated Managers Group during the fourth quarter valued at $204,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG traded up $3.32 during mid-day trading on Tuesday, reaching $177.29. The company had a trading volume of 108,095 shares, compared to its average volume of 232,170. The company's 50-day moving average is $166.98 and its 200-day moving average is $175.22. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $199.52. The company has a market capitalization of $5.04 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same period last year, the company earned $5.37 EPS. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMG. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Bank of America decreased their price target 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. TD Cowen decreased their target price 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. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Barrington Research decreased their target price 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $192.40.

Affiliated Managers Group Company 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.