Pacer Advisors Inc. Sells 3,308 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Affiliated Managers Group by 60.5%, selling 3,308 shares and retaining a total of 2,160 shares valued at approximately $363,000.
• The company's stock fell 1.4% to $206.83, with a market cap of $5.88 billion and a P/E ratio of 15.10, amidst mixed ratings from analysts.
• Affiliated Managers Group announced a quarterly dividend of $0.01 per share, with an annualized yield of 0.0%, set to be paid on August 25th to investors of record on August 11th.

Pacer Advisors Inc. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 60.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,160 shares of the asset manager's stock after selling 3,308 shares during the period. Pacer Advisors Inc.'s holdings in Affiliated Managers Group were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after acquiring an additional 8,361 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after acquiring an additional 83 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Affiliated Managers Group by 785.2% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after acquiring an additional 1,649 shares during the last quarter. Dodge & Cox acquired a new position in Affiliated Managers Group during the fourth quarter valued at approximately $1,202,000. Finally, Invesco Ltd. lifted its position in Affiliated Managers Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 267,786 shares of the asset manager's stock valued at $49,519,000 after buying an additional 9,625 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 0.7%

NYSE:AMG traded down $1.46 during trading hours on Tuesday, reaching $213.07. 39,027 shares of the company's stock were exchanged, compared to its average volume of 230,859. The business's 50-day simple moving average is $195.12 and its two-hundred day simple moving average is $178.63. The company has a market capitalization of $6.06 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $220.00.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.67 EPS. As a group, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 11th. Affiliated Managers Group's dividend payout ratio is currently 0.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMG shares. Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research note on Monday, July 28th. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $214.00 to $255.00 in a research note on Monday. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.20.

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.