Dimensional Fund Advisors LP Has $119.19 Million Stake in 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 cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 6.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other hedge funds have also modified their holdings of AMG. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after buying an additional 102 shares in the last quarter. Versant Capital Management Inc boosted its position in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA boosted its position in Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares during the last quarter. Rossby Financial LCC bought a new position in Affiliated Managers Group in the 1st quarter valued at $56,000. Finally, Cullen Frost Bankers Inc. bought a new position in Affiliated Managers Group in the 1st quarter valued at $56,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on AMG. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. The Goldman Sachs Group upgraded 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. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $215.20.

Affiliated Managers Group Stock Performance

AMG stock traded up $2.58 during midday trading on Wednesday, hitting $228.89. 79,859 shares of the company's stock were exchanged, compared to its average volume of 224,207. The stock's fifty day moving average price is $207.23 and its 200-day moving average price is $182.31. The company has a market cap of $6.50 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $229.40.

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

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, August 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.29%.

About Affiliated Managers Group

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.