Vanguard Group Inc. Has $503.17 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Key Points

• Vanguard Group Inc. has reduced its stake in Affiliated Managers Group by 6.8%, now owning approximately 10.40% of the company worth $503.17 million.
• Affiliated Managers Group's quarterly earnings report showed an EPS of $5.39, surpassing expectations, despite a 1.4% decline in revenue compared to the previous year.
• Recent analyst ratings indicate a shift in sentiment, with multiple firms upgrading the stock to a "buy" rating and increasing price targets, reflecting positive expectations for future performance.

Vanguard Group Inc. lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,994,549 shares of the asset manager's stock after selling 217,297 shares during the period. Vanguard Group Inc. owned approximately 10.40% of Affiliated Managers Group worth $503,174,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMG. Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after buying an additional 102 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after buying an additional 75 shares in the last quarter. Private Trust Co. NA increased its holdings 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 valued at $51,000 after buying 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 $56,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Affiliated Managers Group in the first quarter valued at $56,000. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of AMG stock traded down $4.30 on Friday, hitting $218.69. The company's stock had a trading volume of 129,889 shares, compared to its average volume of 173,122. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $224.30. The firm's fifty day moving average price is $201.92 and its 200-day moving average price is $180.50. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share (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 16.11%. The business had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. During the same quarter in the previous year, the business earned $4.67 EPS. Affiliated Managers Group's quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be paid 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 payout ratio is presently 0.29%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.20.

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.