Affiliated Managers Group, Inc. $AMG Stake Cut by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP reduced its holdings in Affiliated Managers Group, Inc. by 1.9%, owning 606,249 shares valued at approximately $101.87 million at the end of the first quarter.
• Affiliated Managers Group's stock price increased by 1.8% recently, with a market cap of $6.35 billion and a trading range of $139.22 to $223.97 over the past year.
• The company has declared a quarterly dividend of $0.01 per share, with the dividend yield currently at 0.0% and a payout ratio of 0.29%.

Lyrical Asset Management LP decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 606,249 shares of the asset manager's stock after selling 11,909 shares during the quarter. Affiliated Managers Group makes up approximately 1.6% of Lyrical Asset Management LP's portfolio, making the stock its 28th biggest position. Lyrical Asset Management LP owned approximately 2.11% of Affiliated Managers Group worth $101,868,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMG shares. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Finally, The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.20.

Affiliated Managers Group Trading Down 0.7%

AMG traded down $1.43 during trading on Tuesday, reaching $217.66. 84,148 shares of the company were exchanged, compared to its average volume of 226,481. The stock has a market cap of $6.18 billion, a P/E ratio of 15.91, a PEG ratio of 0.62 and a beta of 1.14. The firm has a 50 day moving average of $202.65 and a 200 day moving average of $180.65. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $224.30.

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 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 company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter in the prior year, the business posted $4.67 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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