Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,408 shares of the asset manager's stock after selling 10,638 shares during the quarter. Affiliated Managers Group accounts for 1.4% of Penn Capital Management Company LLC's investment portfolio, making the stock its 16th biggest position. Penn Capital Management Company LLC owned 0.26% of Affiliated Managers Group worth $14,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in shares of 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 acquiring an additional 62 shares in the last quarter. Private Trust Co. NA increased its holdings in Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $46,000. UMB Bank n.a. grew its position 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 worth $47,000 after buying an additional 69 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

AMG has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Barrington Research reduced their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $193.00 to $191.00 in a research note on Monday, January 6th. TD Cowen dropped their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Bank of America decreased 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of "Moderate Buy" and an average price target of $192.40.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded up $1.15 during trading hours on Tuesday, reaching $164.31. The stock had a trading volume of 38,399 shares, compared to its average volume of 234,770. 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 firm has a 50-day simple moving average of $162.15 and a 200-day simple moving average of $177.12. The firm has a market capitalization of $4.73 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. 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 declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued 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 was Tuesday, February 18th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

Affiliated Managers Group Company 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.