Dodge & Cox Decreases 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 decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 53.8% during the first quarter, according to its most recent disclosure with the Securities & 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Affiliated Managers Group by 11.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager's stock valued at $124,000 after acquiring an additional 78 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at approximately $2,727,000. Clarkston Capital Partners LLC increased its holdings in shares of Affiliated Managers Group by 0.8% during the 1st quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager's stock valued at $266,382,000 after purchasing an additional 13,135 shares in the last quarter. CW Advisors LLC lifted its stake in shares of Affiliated Managers Group by 10.2% in the 1st quarter. CW Advisors LLC now owns 1,440 shares of the asset manager's stock valued at $242,000 after purchasing an additional 133 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Affiliated Managers Group by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 232,981 shares of the asset manager's stock worth $39,149,000 after buying an additional 5,685 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 1.1%

Shares of Affiliated Managers Group stock traded up $2.45 during mid-day trading on Tuesday, reaching $226.83. 190,029 shares of the stock traded hands, compared to its average volume of 166,826. The stock has a market capitalization of $6.44 billion, a PE ratio of 16.56, a PEG ratio of 0.62 and a beta of 1.14. The business has a 50-day moving average of $207.23 and a 200 day moving average of $182.31. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $226.85.

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

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued 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 is presently 0.29%.

Analyst Ratings Changes

A number of research analysts have weighed in on AMG shares. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $197.00 to $218.00 in a report on Friday, June 27th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Finally, Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "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.