Aviva PLC Sells 1,218 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Aviva PLC lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 18.6% in the fourth quarter, HoldingsChannel reports. The fund owned 5,333 shares of the asset manager’s stock after selling 1,218 shares during the period. Aviva PLC’s holdings in Affiliated Managers Group were worth $845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMG. Great Lakes Advisors LLC bought a new stake in shares of Affiliated Managers Group during the third quarter worth $13,291,000. Renaissance Technologies LLC acquired a new stake in shares of Affiliated Managers Group during the first quarter worth $13,969,000. Raymond James & Associates grew its stake in shares of Affiliated Managers Group by 60.3% during the fourth quarter. Raymond James & Associates now owns 253,474 shares of the asset manager’s stock worth $40,158,000 after purchasing an additional 95,362 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth $10,025,000. Finally, Prudential Financial Inc. grew its stake in shares of Affiliated Managers Group by 315.9% during the first quarter. Prudential Financial Inc. now owns 72,242 shares of the asset manager’s stock worth $10,183,000 after purchasing an additional 54,870 shares during the period. Institutional investors own 95.31% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $141.39 on Monday. Affiliated Managers Group, Inc. has a 52-week low of $108.12 and a 52-week high of $180.63. The firm has a market capitalization of $5.10 billion, a PE ratio of 5.37, a PEG ratio of 0.69 and a beta of 1.33. The business’s 50-day simple moving average is $139.92 and its 200 day simple moving average is $152.74.

Affiliated Managers Group (NYSE:AMG – Get Rating) last released its earnings results on Monday, May 1st. The asset manager reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $0.03. Affiliated Managers Group had a return on equity of 19.63% and a net margin of 50.65%. The business had revenue of $517.40 million for the quarter, compared to analyst estimates of $539.25 million. During the same quarter in the prior year, the company posted $4.65 earnings per share. Affiliated Managers Group’s revenue was down 14.8% on a year-over-year basis. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 19.02 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, May 10th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group’s payout ratio is presently 0.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barrington Research lifted their price objective on Affiliated Managers Group from $155.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. StockNews.com assumed coverage on Affiliated Managers Group in a research note on Thursday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Finally, Bank of America boosted their target price on Affiliated Managers Group from $182.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, April 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.93.

Insider Buying and Selling

In related news, Director Reuben Jeffery III bought 3,650 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average price of $137.21 per share, for a total transaction of $500,816.50. Following the completion of the acquisition, the director now owns 31,726 shares of the company’s stock, valued at approximately $4,353,124.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.