Boston Partners Sells 29,339 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Boston Partners has reduced its stake in Affiliated Managers Group (AMG) by 2.5%, selling 29,339 shares, while still holding approximately 1,154,791 shares worth around $194 million.
• Several institutional investors have made significant changes to their positions in AMG, with Bank of America increasing its stake by 541.7% and Millennium Management boosting it by 119.2% in the last quarter.
• Affiliated Managers Group recently reported an EPS of $5.39 for the quarter, surpassing estimates, although revenue declined by 1.4% year-over-year, totaling $493.20 million.

Boston Partners decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,154,791 shares of the asset manager's stock after selling 29,339 shares during the quarter. Boston Partners owned approximately 4.01% of Affiliated Managers Group worth $194,012,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC grew its stake in shares of Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after acquiring an additional 102 shares during the last quarter. Versant Capital Management Inc grew 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 worth $30,000 after acquiring an additional 75 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after acquiring an additional 83 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Affiliated Managers Group in the first quarter worth $56,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Affiliated Managers Group in the first quarter worth $56,000. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

AMG has been the topic of several recent analyst reports. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Finally, TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.20.

Affiliated Managers Group Stock Down 1.9%

NYSE AMG traded down $4.30 during trading hours on Friday, reaching $218.69. The company's stock had a trading volume of 129,889 shares, compared to its average volume of 173,122. The firm's 50-day moving average price is $201.92 and its 200-day moving average price is $180.50. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $224.30. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same period in the previous year, the firm earned $4.67 EPS. The firm's revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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.