Nordea Investment Management AB Cuts Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Nordea Investment Management AB lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMGFree Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,404 shares of the asset manager’s stock after selling 898 shares during the quarter. Nordea Investment Management AB owned approximately 0.13% of Affiliated Managers Group worth $6,609,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Mariner LLC raised its holdings in shares of Affiliated Managers Group by 5.0% in the 4th quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock worth $343,000 after purchasing an additional 103 shares during the period. Quadrant Capital Group LLC raised its holdings in Affiliated Managers Group by 26.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 512 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 106 shares during the period. Lazard Asset Management LLC raised its holdings in Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares during the period. Raymond James Trust N.A. raised its holdings in Affiliated Managers Group by 1.6% during the 2nd quarter. Raymond James Trust N.A. now owns 8,110 shares of the asset manager’s stock valued at $1,216,000 after acquiring an additional 127 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Affiliated Managers Group by 1.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,719 shares of the asset manager’s stock valued at $1,006,000 after acquiring an additional 132 shares during the period. Institutional investors own 92.89% of the company’s stock.

Affiliated Managers Group Price Performance

AMG stock opened at $163.78 on Friday. The firm has a 50-day moving average of $155.78 and a 200 day moving average of $142.74. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $165.09. The company has a market cap of $5.37 billion, a P/E ratio of 9.44, a PEG ratio of 0.59 and a beta of 1.30.

Affiliated Managers Group (NYSE:AMGGet Free Report) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The firm had revenue of $502.70 million during the quarter, compared to analyst estimates of $524.98 million. During the same period last year, the business earned $7.28 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 21.42 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 Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

Analyst Ratings Changes

A number of research analysts have recently commented on AMG shares. TD Cowen started coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target for the company. Barrington Research upped their target price on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus target price of $168.20.

Check Out Our Latest Stock Report on Affiliated Managers Group

Affiliated Managers Group Company Profile

(Free Report)

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.

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

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