Affiliated Managers Group, Inc. (NYSE:AMG) Position Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 67.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,652 shares of the asset manager’s stock after selling 89,010 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Affiliated Managers Group worth $7,761,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ariel Investments LLC raised its stake in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after acquiring an additional 30,059 shares in the last quarter. LSV Asset Management grew its position in shares of Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after acquiring an additional 2,000 shares in the last quarter. Raymond James & Associates lifted its stake in Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after purchasing an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Affiliated Managers Group by 6.7% during the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock worth $32,919,000 after purchasing an additional 11,565 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMG. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barrington Research lowered their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Up 0.3 %

Shares of NYSE:AMG opened at $184.91 on Tuesday. The company’s 50-day moving average price is $186.94 and its 200 day moving average price is $173.43. The company has a market cap of $5.59 billion, a PE ratio of 12.06, a P/E/G ratio of 0.67 and a beta of 1.15. Affiliated Managers Group, Inc. has a fifty-two week low of $138.85 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued 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). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the prior year, the firm posted $4.08 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Affiliated Managers Group Company 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.