Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 9.0% in the 4th quarter, HoldingsChannel reports. The firm owned 47,444 shares of the asset manager’s stock after selling 4,681 shares during the period. Legal & General Group Plc’s holdings in Affiliated Managers Group were worth $8,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Affiliated Managers Group by 3.7% in the fourth quarter. Invesco Ltd. now owns 267,786 shares of the asset manager’s stock valued at $49,519,000 after buying an additional 9,625 shares during the last quarter. Federated Hermes Inc. raised its holdings in Affiliated Managers Group by 2.5% in the 4th quarter. Federated Hermes Inc. now owns 4,858 shares of the asset manager’s stock valued at $898,000 after acquiring an additional 119 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Affiliated Managers Group by 2.3% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 24,222 shares of the asset manager’s stock valued at $4,479,000 after acquiring an additional 547 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Affiliated Managers Group by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,620 shares of the asset manager’s stock worth $11,580,000 after purchasing an additional 397 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Affiliated Managers Group by 3.4% during the fourth quarter. Foundry Partners LLC now owns 3,910 shares of the asset manager’s stock worth $723,000 after purchasing an additional 129 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMG has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. 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 report on Thursday, April 3rd. TD Cowen decreased 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 research report on Wednesday, April 9th. Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group has an average rating of “Moderate Buy” and an average price target of $192.40.

Affiliated Managers Group Trading Up 0.3 %

Shares of AMG stock opened at $156.05 on Friday. 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 fifty-two week low of $139.22 and a fifty-two week high of $199.52. The firm’s 50 day moving average price is $163.62 and its two-hundred day moving average price is $178.25. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

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

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 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.