Martingale Asset Management L P Has $1.42 Million Stake in Affiliated Managers Group, Inc. $AMG

Key Points

• Martingale Asset Management L P reduced its holdings in Affiliated Managers Group by 52.1%, selling 9,219 shares and now owning 8,465 shares worth approximately $1.42 million.
• A significant number of institutional investors have increased their stakes in Affiliated Managers Group, with notable increases from entities like Millenium Management (up 119.2%) and Bank of America (up 541.7%) in the last quarter.
• Affiliated Managers Group's recent quarterly earnings exceeded consensus estimates with an EPS of $5.39, although revenue fell 1.4% year-over-year to $493.20 million.

Martingale Asset Management L P lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 52.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,465 shares of the asset manager's stock after selling 9,219 shares during the quarter. Martingale Asset Management L P's holdings in Affiliated Managers Group were worth $1,422,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMG. Envestnet Asset Management Inc. raised its position in shares of Affiliated Managers Group by 18.4% in 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 in the last quarter. Private Trust Co. NA increased 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 valued at $51,000 after acquiring an additional 83 shares during the last quarter. Farther Finance Advisors LLC grew its stake 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 worth $315,000 after buying an additional 1,649 shares during the last quarter. XTX Topco Ltd grew its stake 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 worth $2,469,000 after buying an additional 9,626 shares during the last quarter. Finally, Goodman Financial Corp grew its stake 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 worth $13,578,000 after buying an additional 1,301 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Down 0.9%

Shares of NYSE AMG traded down $2.13 during mid-day trading on Friday, hitting $225.29. 15,969 shares of the company traded hands, compared to its average volume of 223,309. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $229.40. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.63 and a beta of 1.14. The business has a 50 day moving average of $208.95 and a two-hundred day moving average of $182.97.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating the consensus estimate of $5.26 by $0.13. The business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.Affiliated Managers Group's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.67 earnings per share. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid 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 (DPR) is 0.29%.

Wall Street Analyst Weigh In

AMG has been the subject of several recent analyst reports. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. TD Cowen raised 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 note on Monday, August 4th. Finally, Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently 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.