Hsbc Holdings PLC Has $255,000 Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Hsbc Holdings PLC has reduced its stake in Affiliated Managers Group by 58.5% in Q1, holding just 1,518 shares valued at $255,000.
• Affiliated Managers Group reported earnings per share of $5.39 for the quarter, exceeding expectations, although its revenue fell 1.4% year-over-year.
• The stock has received a mix of ratings, with some brokerages upgrading it to a buy, while others have downgraded it, leaving the consensus rating at "Buy" with a target price of $242.40.

Hsbc Holdings PLC trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 58.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,518 shares of the asset manager's stock after selling 2,137 shares during the quarter. Hsbc Holdings PLC's holdings in Affiliated Managers Group were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

AMG has been the subject of a number of analyst reports. Bank of America upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their target price for the company from $236.00 to $331.00 in a research note on Tuesday, September 2nd. Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their target price for the company from $214.00 to $255.00 in a report on Monday, August 4th. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Finally, Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of "Buy" and a consensus price target of $242.40.

Affiliated Managers Group Price Performance

AMG traded down $2.97 on Friday, hitting $230.09. The company had a trading volume of 119,627 shares, compared to its average volume of 162,403. The company's fifty day moving average price is $213.73 and its 200 day moving average price is $185.52. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $235.00. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating 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 the consensus estimate of $506.46 million. During the same quarter in the prior year, the company earned $4.67 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Affiliated Managers Group 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.