Wallace Capital Management Inc. Lowers Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Wallace Capital Management Inc. trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,979 shares of the asset manager's stock after selling 1,391 shares during the period. Affiliated Managers Group comprises about 1.7% of Wallace Capital Management Inc.'s portfolio, making the stock its 14th largest position. Wallace Capital Management Inc. owned approximately 0.22% of Affiliated Managers Group worth $12,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMG. Jones Financial Companies Lllp raised its stake in Affiliated Managers Group by 79.5% in the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after buying an additional 62 shares in the last quarter. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after acquiring an additional 124 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Affiliated Managers Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after purchasing an additional 69 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Affiliated Managers Group during the fourth quarter valued at about $70,000. Finally, Lingohr Asset Management GmbH bought a new stake in Affiliated Managers Group during the fourth quarter valued at about $204,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $182.26 on Tuesday. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.57 and a beta of 1.06. The stock's 50-day simple moving average is $165.84 and its 200-day simple moving average is $175.42.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. The company had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. During the same period last year, the business earned $5.37 EPS. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.01 dividend. 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 (DPR) is 0.30%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AMG shares. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Bank of America cut their price objective on shares of 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. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. TD Cowen lowered their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Barrington Research cut their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $192.40.

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.

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