Dodge & Cox Cuts Stock Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Dodge & Cox has reduced its stake in Affiliated Managers Group, Inc. (AMG) by 53.8%, selling 3,500 shares to hold 3,000 shares worth $504,000.
• Several institutional investors, including Northwestern Mutual Wealth Management, have increased their positions in AMG, contributing to a high institutional ownership of 95.30%.
• Affiliated Managers Group recently reported $5.39 earnings per share, surpassing analyst expectations, but also announced a meager dividend of $0.01 per share for shareholders.

Dodge & Cox lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 53.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the asset manager's stock after selling 3,500 shares during the quarter. Dodge & Cox's holdings in Affiliated Managers Group were worth $504,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after purchasing an additional 8,361 shares during the last quarter. Private Trust Co. NA lifted 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 valued at $51,000 after purchasing an additional 83 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Affiliated Managers Group by 785.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after purchasing an additional 1,649 shares during the last quarter. XTX Topco Ltd lifted its holdings in Affiliated Managers Group by 189.9% during the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock valued at $2,469,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Goodman Financial Corp lifted its holdings in Affiliated Managers Group by 1.6% during the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock valued at $13,578,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on AMG shares. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. One 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's stock. According to data from MarketBeat, Affiliated Managers Group presently has an average rating of "Buy" and an average target price of $215.20.

Affiliated Managers Group Price Performance

NYSE:AMG traded down $2.06 during trading hours on Friday, hitting $225.36. The company's stock had a trading volume of 23,859 shares, compared to its average volume of 223,365. The stock has a fifty day simple moving average of $208.95 and a 200-day simple moving average of $182.97. The company has a market capitalization of $6.40 billion, a P/E ratio of 16.45, a PEG ratio of 0.63 and a beta of 1.14. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $229.40.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $4.67 earnings per share. On average, equities analysts predict 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 was paid on Monday, August 25th. Investors 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 dividend payout ratio is 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.