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 position in shares of 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 quarter. Pacer Advisors Inc.'s holdings in Affiliated Managers Group were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC lifted its stake in Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. Versant Capital Management Inc increased 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 valued at $30,000 after purchasing an additional 75 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Affiliated Managers Group by 38.1% during 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 in the last quarter. Rossby Financial LCC bought a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $56,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Affiliated Managers Group during the first quarter worth about $56,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Down 1.4%

NYSE AMG traded down $3.04 during trading hours on Friday, reaching $206.83. The company had a trading volume of 197,074 shares, compared to its average volume of 188,276. The stock has a 50-day moving average of $194.32 and a 200 day moving average of $178.49. The stock has a market capitalization of $5.88 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.63 and a beta of 1.14. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $220.00.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 EPS 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 16.03%. The firm had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter last year, the business earned $4.67 earnings per share. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be issued a dividend of $0.01 per share. 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 payout ratio is presently 0.29%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMG shares. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday. TD Cowen lowered their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Monday, July 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $197.80.

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.