Fisher Asset Management LLC Reduces Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Fisher Asset Management LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 8.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,337 shares of the asset manager’s stock after selling 5,787 shares during the quarter. Fisher Asset Management LLC owned about 0.18% of Affiliated Managers Group worth $9,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley grew its stake in Affiliated Managers Group by 1.7% during the third quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after acquiring an additional 41,120 shares in the last quarter. LGT Capital Partners LTD. grew its position in shares of Affiliated Managers Group by 28.3% during the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock valued at $59,558,000 after purchasing an additional 86,670 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Affiliated Managers Group by 72.3% in the fourth quarter. SG Americas Securities LLC now owns 15,256 shares of the asset manager’s stock worth $2,310,000 after purchasing an additional 6,402 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Affiliated Managers Group by 342.1% in the fourth quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after purchasing an additional 124,871 shares during the period. Finally, AIA Group Ltd raised its position in shares of Affiliated Managers Group by 143.5% in the fourth quarter. AIA Group Ltd now owns 7,854 shares of the asset manager’s stock worth $1,189,000 after buying an additional 4,629 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $157.23 on Tuesday. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $169.65. The company has a fifty day moving average of $161.53 and a 200-day moving average of $149.78. The company has a market capitalization of $5.10 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.14. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. During the same quarter last year, the company earned $4.18 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th.

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.