Mackenzie Financial Corp Decreases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Mackenzie Financial Corp lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,133 shares of the asset manager’s stock after selling 377 shares during the period. Mackenzie Financial Corp’s holdings in Affiliated Managers Group were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. raised its position in Affiliated Managers Group by 7.4% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 6,872 shares of the asset manager’s stock worth $1,041,000 after acquiring an additional 476 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $576,000. Louisiana State Employees Retirement System acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $1,438,000. Seascape Capital Management raised its position in shares of Affiliated Managers Group by 5.6% in the fourth quarter. Seascape Capital Management now owns 14,055 shares of the asset manager’s stock valued at $2,128,000 after buying an additional 749 shares during the last quarter. Finally, Sapient Capital LLC acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $391,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMG. Barrington Research boosted their price objective on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. TD Cowen began coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective for the company.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $159.58 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $169.65. The firm has a 50 day moving average price of $161.19 and a 200 day moving average price of $147.91. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $502.70 million during the quarter, compared to the consensus estimate of $524.98 million. During the same period in the previous year, the firm earned $7.28 earnings per share. Affiliated Managers Group’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.23%.

About Affiliated Managers Group

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.