Nuveen Asset Management LLC Sells 23,884 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Nuveen Asset Management LLC decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F 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 quarter. Nuveen Asset Management LLC owned 0.34% of Affiliated Managers Group worth $18,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after buying an additional 62 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock valued at $40,000 after buying an additional 124 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Affiliated Managers Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock valued at $47,000 after buying an additional 69 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Affiliated Managers Group during the fourth quarter valued at $70,000. Finally, Lingohr Asset Management GmbH purchased a new position in shares of Affiliated Managers Group during the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMG shares. Barrington Research lowered their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. TD Cowen lowered their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Bank of America lowered their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $192.40.

Affiliated Managers Group Stock Up 0.7%

NYSE AMG traded up $1.16 on Thursday, reaching $175.16. The stock had a trading volume of 38,999 shares, compared to its average volume of 236,434. The business has a 50 day moving average price of $167.25 and a 200 day moving average price of $175.23. 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 company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.57 and a beta of 1.06.

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

Affiliated Managers Group Dividend Announcement

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

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.