Comerica Bank Sells 545 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Comerica Bank lessened its position in Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 17,433 shares of the asset manager’s stock after selling 545 shares during the period. Comerica Bank’s holdings in Affiliated Managers Group were worth $2,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Affiliated Managers Group by 7.9% during the second quarter. US Bancorp DE now owns 3,062 shares of the asset manager’s stock valued at $357,000 after buying an additional 223 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Affiliated Managers Group during the second quarter valued at about $361,000. Strs Ohio grew its stake in shares of Affiliated Managers Group by 13.0% during the third quarter. Strs Ohio now owns 7,591 shares of the asset manager’s stock valued at $849,000 after buying an additional 873 shares during the last quarter. Prana Capital Management LP grew its stake in shares of Affiliated Managers Group by 49.6% during the second quarter. Prana Capital Management LP now owns 166,178 shares of the asset manager’s stock valued at $19,376,000 after buying an additional 55,133 shares during the last quarter. Finally, Clarkston Capital Partners LLC grew its stake in shares of Affiliated Managers Group by 21.1% during the second quarter. Clarkston Capital Partners LLC now owns 2,028,182 shares of the asset manager’s stock valued at $236,486,000 after buying an additional 353,109 shares during the last quarter. Institutional investors own 95.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMG. Jefferies Financial Group raised Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $192.00 in a research note on Monday, November 28th. Credit Suisse Group raised their price objective on Affiliated Managers Group from $140.00 to $163.50 and gave the company an “outperform” rating in a research note on Tuesday, November 8th. The Goldman Sachs Group began coverage on Affiliated Managers Group in a research note on Monday, November 21st. They issued a “buy” rating and a $182.00 target price on the stock. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Barrington Research raised their target price on Affiliated Managers Group from $145.00 to $155.00 in a research note on Monday, November 7th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus price target of $178.79.

Affiliated Managers Group Price Performance

Shares of AMG opened at $162.43 on Friday. Affiliated Managers Group, Inc. has a one year low of $108.12 and a one year high of $172.01. The company has a 50-day simple moving average of $159.16 and a two-hundred day simple moving average of $136.81. The firm has a market capitalization of $6.12 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMGGet Rating) last issued its quarterly earnings data on Monday, November 7th. The asset manager reported $4.21 EPS for the quarter, topping the consensus estimate of $3.92 by $0.29. Affiliated Managers Group had a net margin of 22.02% and a return on equity of 21.15%. The business had revenue of $578.60 million during the quarter, compared to analyst estimates of $553.29 million. Analysts expect that Affiliated Managers Group, Inc. will post 19.68 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, November 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.31%.

Affiliated Managers Group Company Profile

(Get Rating)

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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