Channing Capital Management LLC Has $74.64 Million Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Channing Capital Management LLC reduced its stake in Affiliated Managers Group by 13.7%, now holding 444,192 shares valued at approximately $74.64 million, making it the 11th largest position in their portfolio.
• Recent analyst upgrades for AMG include a boost from Cowen from "hold" to "buy" and a target price increase from Goldman Sachs from $197.00 to $218.00.
• Affiliated Managers Group reported a quarterly earnings per share (EPS) of $5.39, surpassing analysts' estimates, although revenue decreased by 1.4% year-over-year.

Channing Capital Management LLC reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 444,192 shares of the asset manager's stock after selling 70,388 shares during the period. Affiliated Managers Group makes up approximately 2.3% of Channing Capital Management LLC's holdings, making the stock its 11th largest holding. Channing Capital Management LLC owned approximately 1.54% of Affiliated Managers Group worth $74,638,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mariner LLC lifted its holdings in Affiliated Managers Group by 6.2% during the 4th quarter. Mariner LLC now owns 4,624 shares of the asset manager's stock valued at $855,000 after purchasing an additional 270 shares during the last quarter. Marshall Wace LLP bought a new position in Affiliated Managers Group during the 4th quarter valued at about $3,630,000. First Trust Advisors LP lifted its holdings in Affiliated Managers Group by 69.7% during the 4th quarter. First Trust Advisors LP now owns 217,571 shares of the asset manager's stock valued at $40,233,000 after purchasing an additional 89,395 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Affiliated Managers Group by 10.3% during the 4th quarter. MetLife Investment Management LLC now owns 17,022 shares of the asset manager's stock valued at $3,148,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Affiliated Managers Group by 71.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,400 shares of the asset manager's stock valued at $444,000 after purchasing an additional 1,002 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Finally, TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and an average price target of $215.20.

Affiliated Managers Group Trading Down 0.2%

Shares of NYSE:AMG traded down $0.44 during trading on Monday, hitting $224.50. 142,015 shares of the company's stock were exchanged, compared to its average volume of 225,308. The firm has a market cap of $6.38 billion, a P/E ratio of 16.39, a PEG ratio of 0.62 and a beta of 1.14. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $226.18. The firm has a 50-day moving average price of $205.54 and a two-hundred day moving average price of $181.67.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.67 earnings per share. As a group, research analysts predict 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, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's dividend payout ratio is 0.29%.

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.