Geode Capital Management LLC Sells 16,634 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Geode Capital Management LLC lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 526,041 shares of the asset manager’s stock after selling 16,634 shares during the quarter. Geode Capital Management LLC’s holdings in Affiliated Managers Group were worth $93,555,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMG. Ariel Investments LLC lifted its position 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 worth $225,411,000 after acquiring an additional 115,808 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management lifted its position in Affiliated Managers Group by 0.8% in the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares during the period. New York State Common Retirement Fund boosted 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 buying an additional 11,565 shares in the last quarter. Finally, Basswood Capital Management L.L.C. increased its holdings in Affiliated Managers Group by 22.7% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 131,981 shares of the asset manager’s stock valued at $23,466,000 after buying an additional 24,379 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMG. Barrington Research dropped their price target 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. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $196.50.

Affiliated Managers Group Trading Up 0.6 %

NYSE AMG opened at $179.54 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $145.36 and a 12 month high of $199.52. The stock has a 50-day simple moving average of $187.71 and a 200 day simple moving average of $174.64. The company has a market capitalization of $5.43 billion, a PE ratio of 11.71, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results 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 net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the firm earned $4.08 EPS. Affiliated Managers Group’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 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.