Dimensional Fund Advisors LP Sells 51,832 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Dimensional Fund Advisors LP reduced its stake in Affiliated Managers Group, Inc. by 6.8%, holding approximately 2.46% of the company, valued at $119.19 million.
• Multiple investors increased their positions in Affiliated Managers Group during Q1, with notable boosts from Millstone Evans Group LLC and Versant Capital Management Inc., contributing to institutional investors owning 95.30% of the company's stock.
• Analysts upgraded Affiliated Managers Group's rating to "buy," with price targets ranging from $200 to $255, indicating strong confidence in the company's growth potential after reporting EPS of $5.39 for the last quarter.

Dimensional Fund Advisors LP trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 709,366 shares of the asset manager's stock after selling 51,832 shares during the period. Dimensional Fund Advisors LP owned about 2.46% of Affiliated Managers Group worth $119,189,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMG. Mariner LLC boosted its position in Affiliated Managers Group by 6.2% during the fourth quarter. Mariner LLC now owns 4,624 shares of the asset manager's stock valued at $855,000 after buying an additional 270 shares during the period. Marshall Wace LLP bought a new position in shares of Affiliated Managers Group during the fourth quarter valued at about $3,630,000. First Trust Advisors LP raised its stake in shares of Affiliated Managers Group by 69.7% during the fourth quarter. First Trust Advisors LP now owns 217,571 shares of the asset manager's stock valued at $40,233,000 after acquiring an additional 89,395 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Affiliated Managers Group by 10.3% during the fourth quarter. MetLife Investment Management LLC now owns 17,022 shares of the asset manager's stock valued at $3,148,000 after acquiring an additional 1,586 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Affiliated Managers Group by 71.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,400 shares of the asset manager's stock valued at $444,000 after acquiring an additional 1,002 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMG has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Finally, Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $215.20.

Affiliated Managers Group Price Performance

AMG stock traded down $0.99 during trading on Thursday, reaching $226.80. The company had a trading volume of 174,343 shares, compared to its average volume of 173,653. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $229.40. The company has a market cap of $6.44 billion, a P/E ratio of 16.55, a PEG ratio of 0.63 and a beta of 1.14. The business has a 50 day moving average of $208.95 and a 200 day moving average of $182.97.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. During the same period in the prior year, the firm earned $4.67 earnings per share. Affiliated Managers Group's revenue was down 1.4% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is currently 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.