Amalgamated Bank Reduces Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Amalgamated Bank lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,770 shares of the asset manager’s stock after selling 2,449 shares during the period. Amalgamated Bank owned 0.07% of Affiliated Managers Group worth $3,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. New York State Common Retirement Fund raised its stake in Affiliated Managers Group by 342.1% in the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after acquiring an additional 124,871 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after purchasing an additional 120,977 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Affiliated Managers Group by 294.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock worth $22,447,000 after purchasing an additional 110,646 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Affiliated Managers Group by 65.7% during the third quarter. Invesco Ltd. now owns 263,664 shares of the asset manager’s stock worth $34,366,000 after purchasing an additional 104,507 shares during the period. Finally, LGT Capital Partners LTD. boosted its position in Affiliated Managers Group by 28.3% in the fourth quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock valued at $59,558,000 after buying an additional 86,670 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $157.33 on Friday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.56 and a beta of 1.31. The firm’s 50 day simple moving average is $161.53 and its 200-day simple moving average is $150.10. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, beating the consensus estimate of $5.21 by $0.16. The company had revenue of $499.90 million for the quarter, compared to analyst estimates of $524.53 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. During the same quarter last year, the business earned $4.18 earnings per share. Analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barrington Research restated an “outperform” rating and set a $190.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday. TD Cowen lowered their price target on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a report on Tuesday.

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.