Natixis Advisors LLC Sells 1,388 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Natixis Advisors LLC reduced its stake in Affiliated Managers Group by 10%, now holding 12,487 shares worth approximately $2,098,000.
• Wall Street analysts have mixed views on AMG, with Goldman Sachs upgrading to a "buy" rating and a price target increase to $218.00, while others have issued varying ratings.
• The company reported earnings of $5.39 per share for the last quarter, surpassing the consensus estimate of $5.26, but its revenue was slightly below expectations at $493.20 million.

Natixis Advisors LLC trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,487 shares of the asset manager's stock after selling 1,388 shares during the quarter. Natixis Advisors LLC's holdings in Affiliated Managers Group were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC boosted its holdings 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 during the last quarter. Versant Capital Management Inc lifted its position in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after buying an additional 75 shares in the last quarter. Private Trust Co. NA boosted its stake 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 buying an additional 83 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Affiliated Managers Group in the 1st quarter worth approximately $56,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $56,000. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMG shares. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday. Barrington Research restated an "outperform" rating and set a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $214.00 to $255.00 in a report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $215.20.

Affiliated Managers Group Price Performance

Shares of AMG opened at $209.30 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $220.00. The stock's fifty day moving average price is $197.28 and its two-hundred day moving average price is $179.26. The firm has a market cap of $5.95 billion, a PE ratio of 15.28, a PEG ratio of 0.61 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.03% and a net margin of 21.79%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.67 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 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.

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