Guinness Asset Management LTD Sells 292 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Guinness Asset Management LTD cut its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,423 shares of the asset manager’s stock after selling 292 shares during the period. Guinness Asset Management LTD’s holdings in Affiliated Managers Group were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC lifted its position in shares of Affiliated Managers Group by 98.8% during the fourth quarter. Corient Private Wealth LLC now owns 9,551 shares of the asset manager’s stock worth $1,446,000 after acquiring an additional 4,747 shares in the last quarter. Bridgewater Associates LP increased its stake in Affiliated Managers Group by 24.9% in the fourth quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock valued at $19,285,000 after acquiring an additional 25,365 shares during the last quarter. Morgan Stanley grew its stake in shares of 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 buying an additional 41,120 shares during the last quarter. Charles Carroll Financial Partners LLC grew its stake in shares of Affiliated Managers Group by 62.3% during the fourth quarter. Charles Carroll Financial Partners LLC now owns 13,150 shares of the asset manager’s stock valued at $1,991,000 after buying an additional 5,050 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $1,037,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.1 %

NYSE:AMG opened at $156.93 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65. The company has a market cap of $5.00 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 0.51 and a beta of 1.24. The company has a 50 day simple moving average of $157.93 and a two-hundred day simple moving average of $156.07.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The business had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. During the same quarter in the previous year, the firm posted $4.18 EPS. Research analysts forecast that Affiliated Managers Group, Inc. will post 21.72 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.22%.

Analysts Set New Price Targets

Several brokerages have commented on AMG. Barrington Research restated an “outperform” rating and issued a $190.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, May 7th. TD Cowen lowered their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a report on Tuesday, May 7th.

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.