Nuveen Asset Management LLC Lowers Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Nuveen Asset Management LLC trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,054 shares of the asset manager's stock after selling 23,884 shares during the period. Nuveen Asset Management LLC owned 0.34% of Affiliated Managers Group worth $18,872,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after acquiring an additional 124 shares in the last quarter. UMB Bank n.a. raised its position in shares of Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after acquiring an additional 69 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $70,000. Finally, Lingohr Asset Management GmbH bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $204,000. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded up $3.20 during mid-day trading on Tuesday, reaching $177.17. The stock had a trading volume of 262,402 shares, compared to its average volume of 232,764. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $199.52. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.57 and a beta of 1.06. The business's fifty day moving average is $166.98 and its 200-day moving average is $175.22.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. The firm had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. During the same quarter in the previous year, the company posted $5.37 earnings per share. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Monday, May 19th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen reduced their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Barrington Research reduced their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Finally, Bank of America reduced their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $192.40.

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.