Rhumbline Advisers Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Rhumbline Advisers lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,856 shares of the asset manager's stock after selling 3,677 shares during the period. Rhumbline Advisers owned approximately 0.29% of Affiliated Managers Group worth $13,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in shares of Affiliated Managers Group by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock valued at $197,000 after acquiring an additional 75 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Affiliated Managers Group by 14,091.8% in the 1st quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock valued at $21,176,000 after acquiring an additional 125,135 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Affiliated Managers Group by 2.1% in the 1st quarter. First Hawaiian Bank now owns 9,269 shares of the asset manager's stock valued at $1,557,000 after acquiring an additional 190 shares in the last quarter. Finally, CWC Advisors LLC. raised its holdings in shares of Affiliated Managers Group by 1.3% in the 4th quarter. CWC Advisors LLC. now owns 10,833 shares of the asset manager's stock valued at $2,003,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

AMG opened at $182.30 on Monday. The stock's 50 day simple moving average is $168.49 and its 200 day simple moving average is $174.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. 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 $5.18 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.57 and a beta of 1.08.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period last year, the company earned $5.37 EPS. As a group, analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's payout ratio is 0.30%.

Analyst Ratings Changes

Several analysts have weighed in on AMG shares. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Barrington Research reduced their price objective 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. TD Cowen reduced 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. Bank of America reduced their price objective 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. Finally, Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has an average 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.

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