Affiliated Managers Group, Inc. (NYSE:AMG) Stock Holdings Lowered by Guinness Asset Management LTD

Guinness Asset Management LTD reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,409 shares of the asset manager’s stock after selling 781 shares during the quarter. Guinness Asset Management LTD’s holdings in Affiliated Managers Group were worth $621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Affiliated Managers Group by 70.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 85 shares during the period. Whittier Trust Co. raised its holdings in shares of Affiliated Managers Group by 47.1% during the fourth quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 104 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Affiliated Managers Group by 121.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 385 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 211 shares during the period. KBC Group NV acquired a new stake in shares of Affiliated Managers Group during the fourth quarter valued at approximately $67,000. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Affiliated Managers Group during the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Affiliated Managers Group stock opened at $116.92 on Thursday. The firm has a market cap of $4.56 billion, a PE ratio of 8.88, a P/E/G ratio of 0.66 and a beta of 1.32. Affiliated Managers Group, Inc. has a twelve month low of $112.38 and a twelve month high of $191.62. The firm’s 50 day moving average price is $128.08 and its two-hundred day moving average price is $140.69.

Affiliated Managers Group (NYSE:AMGGet Rating) last posted its earnings results on Monday, May 2nd. The asset manager reported $4.65 EPS for the quarter, topping the consensus estimate of $4.32 by $0.33. The company had revenue of $607.30 million during the quarter, compared to the consensus estimate of $662.80 million. Affiliated Managers Group had a net margin of 22.84% and a return on equity of 22.99%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.28 earnings per share. Research analysts expect that Affiliated Managers Group, Inc. will post 18.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.30%.

A number of research firms have recently issued reports on AMG. Deutsche Bank Aktiengesellschaft cut their price target on shares of Affiliated Managers Group from $162.00 to $152.00 in a report on Thursday, May 19th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. Citigroup dropped their price objective on shares of Affiliated Managers Group from $241.00 to $222.00 in a research note on Tuesday, May 3rd. Finally, Barrington Research dropped their price objective on shares of Affiliated Managers Group from $190.00 to $160.00 in a research note on Monday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

About Affiliated Managers Group (Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

See Also

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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