Wellington Management Group LLP Has $2.45 Million Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Wellington Management Group LLP cut its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,796 shares of the asset manager’s stock after selling 1,188 shares during the period. Wellington Management Group LLP’s holdings in Affiliated Managers Group were worth $2,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth $30,000. UMB Bank n.a. grew its position in Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $47,000. Finally, Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group during the third quarter worth $47,000. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $186.67 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $145.36 and a 52 week high of $199.52. The firm has a 50-day moving average price of $187.80 and a two-hundred day moving average price of $174.41. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15.

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

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a $0.01 dividend. 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 (DPR) is currently 0.26%.

Analyst Upgrades and Downgrades

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

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.