Hsbc Holdings PLC Trims Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Hsbc Holdings PLC decreased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,655 shares of the asset manager's stock after selling 5,009 shares during the quarter. Hsbc Holdings PLC's holdings in Affiliated Managers Group were worth $676,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Boston Partners lifted its holdings in Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock valued at $218,975,000 after purchasing an additional 373,696 shares in the last quarter. Norges Bank purchased a new stake in shares of Affiliated Managers Group in the fourth quarter worth $68,683,000. Empirical Asset Management LLC lifted its stake in shares of Affiliated Managers Group by 10,522.8% during the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager's stock valued at $347,000 after buying an additional 188,568 shares in the last quarter. LSV Asset Management boosted its holdings in Affiliated Managers Group by 79.1% in the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock worth $78,405,000 after buying an additional 187,290 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Affiliated Managers Group in the 4th quarter worth $28,818,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMG shares. StockNews.com 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 report on Wednesday, April 9th. Bank of America cut their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Barrington Research lowered their target price 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. Three 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, Affiliated Managers Group currently has an average rating of "Moderate Buy" and an average price target of $192.40.

Affiliated Managers Group Trading Down 0.9 %

Shares of NYSE:AMG traded down $1.60 during trading on Friday, hitting $179.56. The company had a trading volume of 347,257 shares, compared to its average volume of 229,130. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The company has a fifty day simple moving average of $163.23 and a two-hundred day simple moving average of $176.10. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly 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. The firm had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. During the same period in the previous year, the company 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 year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Monday, May 19th. Affiliated Managers Group's payout ratio is currently 0.26%.

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.