Affiliated Managers Group, Inc. (NYSE:AMG) Stock Position Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 9.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,131 shares of the asset manager’s stock after selling 2,620 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Affiliated Managers Group were worth $4,290,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AMG. Ariel Investments LLC grew its position in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after acquiring an additional 115,808 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares in the last quarter. Bank of Montreal Can boosted its holdings in Affiliated Managers Group by 328.2% in the third quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock worth $12,420,000 after purchasing an additional 54,003 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Affiliated Managers Group by 70.6% during the third quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager’s stock worth $17,793,000 after buying an additional 41,413 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after buying an additional 38,206 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of a number of analyst reports. Barrington Research lowered their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $184.42 on Friday. The business’s 50-day simple moving average is $186.80 and its 200-day simple moving average is $173.03. The firm has a market capitalization of $5.57 billion, a PE ratio of 12.03, a PEG ratio of 0.68 and a beta of 1.15. Affiliated Managers Group, Inc. has a 52 week low of $135.22 and a 52 week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.08 EPS. Research analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Affiliated Managers Group Profile

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.