Legal & General Group Plc Has $8.77 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Legal & General Group Plc reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,444 shares of the asset manager's stock after selling 4,681 shares during the quarter. Legal & General Group Plc owned about 0.16% of Affiliated Managers Group worth $8,773,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Affiliated Managers Group by 0.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager's stock valued at $1,137,000 after purchasing an additional 55 shares during the period. Jones Financial Companies Lllp increased its stake in Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 69 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Affiliated Managers Group by 11.8% in the fourth quarter. GAMMA Investing LLC now owns 888 shares of the asset manager's stock valued at $164,000 after purchasing an additional 94 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Affiliated Managers Group by 1.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager's stock worth $1,553,000 after acquiring an additional 100 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent research reports. 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. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $193.00 to $191.00 in a research note on Monday, January 6th. TD Cowen lowered their price target on 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, Bank of America reduced their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.40.

Affiliated Managers Group Stock Performance

AMG traded up $4.86 on Wednesday, reaching $163.34. The company had a trading volume of 26,934 shares, compared to its average volume of 234,890. 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 stock has a market cap of $4.70 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.57 and a beta of 1.09. The company's fifty day moving average is $162.81 and its 200 day moving average is $177.76.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. As a group, analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group's payout ratio is 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.