Charles Schwab Investment Management Inc. Cuts Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8%, selling 12,640 shares to own 318,466 shares at a total value of approximately $53.5 million.
• Institutional investors collectively own 95.30% of Affiliated Managers Group, with significant increases in holdings reported by firms such as Millennium Management and Bank of America, indicating strong institutional interest.
• Affiliated Managers Group recently reported $5.39 EPS for the quarter, exceeding estimates, and announced a dividend of $0.01 per share, with a payout ratio of 0.29%.

Charles Schwab Investment Management Inc. lessened its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 318,466 shares of the asset manager's stock after selling 12,640 shares during the period. Charles Schwab Investment Management Inc. owned about 1.11% of Affiliated Managers Group worth $53,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in Affiliated Managers Group by 2.5% during the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after acquiring an additional 70 shares in the last quarter. Versant Capital Management Inc grew its holdings in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Parallel Advisors LLC grew its holdings in Affiliated Managers Group by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock worth $197,000 after acquiring an additional 75 shares in the last quarter. Private Trust Co. NA grew its holdings in Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after acquiring an additional 83 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Affiliated Managers Group by 4.8% during the 1st quarter. M&T Bank Corp now owns 1,956 shares of the asset manager's stock worth $329,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock traded down $1.2450 during trading hours on Tuesday, reaching $217.8450. 112,386 shares of the stock were exchanged, compared to its average volume of 226,659. The stock has a market cap of $6.19 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.62 and a beta of 1.14. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $224.30. The firm's 50 day moving average is $202.65 and its 200 day moving average is $180.65.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts' consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. Affiliated Managers Group's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.67 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on AMG shares. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $197.00 to $218.00 in a report on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.20.

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.