Affiliated Managers Group, Inc. $AMG Position Trimmed by Martingale Asset Management L P

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

Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC lifted its position in shares of 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 lifted its stake 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 acquiring an additional 75 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Affiliated Managers Group in the first quarter valued at about $36,000. Private Trust Co. NA grew its stake 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 in the last quarter. Finally, Rossby Financial LCC acquired a new stake in Affiliated Managers Group during the 1st quarter valued at approximately $56,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 0.7%

AMG stock traded up $1.68 during trading on Wednesday, hitting $227.99. 189,589 shares of the company's stock traded hands, compared to its average volume of 224,900. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $229.40. The stock has a fifty day moving average price of $207.23 and a two-hundred day moving average price of $182.31. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released 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 net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. During the same quarter in the previous year, the firm earned $4.67 earnings per share. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, 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. Shareholders 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 payout ratio is presently 0.29%.

Analyst Ratings Changes

AMG has been the topic of a number of recent analyst reports. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Affiliated Managers Group has an average rating of "Buy" and an average price target of $215.20.

About Affiliated Managers Group

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.