Wallace Capital Management Inc. Cuts Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Wallace Capital Management Inc. decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,979 shares of the asset manager's stock after selling 1,391 shares during the period. Affiliated Managers Group makes up about 1.7% of Wallace Capital Management Inc.'s holdings, making the stock its 14th largest holding. Wallace Capital Management Inc. owned 0.22% of Affiliated Managers Group worth $12,571,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 62 shares in the last quarter. Private Trust Co. NA raised its position in 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 purchasing an additional 124 shares in the last quarter. UMB Bank n.a. raised its position in 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 purchasing an additional 69 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Affiliated Managers Group during the fourth quarter valued at about $70,000. Finally, Lingohr Asset Management GmbH purchased a new stake in Affiliated Managers Group during the fourth quarter valued at about $204,000. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

AMG has been the topic of a number of research reports. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. 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 research report on Wednesday, April 9th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Barrington Research decreased their price objective 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. Finally, Bank of America decreased their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $192.40.

Affiliated Managers Group Trading Down 0.9%

Shares of AMG traded down $1.56 during trading hours on Friday, hitting $173.94. The company had a trading volume of 182,198 shares, compared to its average volume of 232,645. The firm has a market cap of $4.94 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.57 and a beta of 1.06. The stock's 50 day moving average price is $166.91 and its 200 day moving average price is $175.35. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $199.52.

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

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, May 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group's dividend payout ratio 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.