Cerity Partners LLC Has $949,000 Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Cerity Partners LLC lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 39.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,645 shares of the asset manager's stock after selling 3,662 shares during the period. Cerity Partners LLC's holdings in Affiliated Managers Group were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMG. Vanguard Group Inc. grew its stake in Affiliated Managers Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock worth $593,935,000 after buying an additional 31,343 shares during the last quarter. LSV Asset Management grew its stake in Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock worth $78,405,000 after buying an additional 187,290 shares during the last quarter. Norges Bank bought a new stake in Affiliated Managers Group during the fourth quarter worth about $68,683,000. Northern Trust Corp grew its stake in Affiliated Managers Group by 8.4% during the fourth quarter. Northern Trust Corp now owns 349,611 shares of the asset manager's stock worth $64,650,000 after buying an additional 26,990 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Affiliated Managers Group by 119.2% during the fourth quarter. Millennium Management LLC now owns 305,497 shares of the asset manager's stock worth $56,493,000 after buying an additional 166,144 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMG. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Barrington Research cut their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. TD Cowen cut their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Bank of America cut their price objective 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. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of "Hold" and a consensus price target of $197.80.

Affiliated Managers Group Stock Up 2.3%

Shares of NYSE:AMG traded up $4.89 during midday trading on Friday, reaching $216.06. 258,552 shares of the company were exchanged, compared to its average volume of 234,107. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $216.20. The stock has a fifty day simple moving average of $190.44 and a two-hundred day simple moving average of $177.25. The firm has a market cap of $6.14 billion, a PE ratio of 16.42, a P/E/G ratio of 0.64 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The business had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same quarter last year, the firm earned $5.37 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. 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.