Los Angeles Capital Management LLC Reduces Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Los Angeles Capital Management LLC lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 51,119 shares of the asset manager’s stock after selling 423 shares during the period. Los Angeles Capital Management LLC’s holdings in Affiliated Managers Group were worth $7,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMG. Natixis Advisors L.P. grew its holdings in shares of Affiliated Managers Group by 6.3% in the fourth quarter. Natixis Advisors L.P. now owns 12,018 shares of the asset manager’s stock worth $1,819,000 after purchasing an additional 711 shares during the last quarter. New York Life Investment Management LLC boosted its position in Affiliated Managers Group by 3.5% in the 4th quarter. New York Life Investment Management LLC now owns 3,928 shares of the asset manager’s stock valued at $595,000 after buying an additional 131 shares during the period. Victory Capital Management Inc. grew its stake in Affiliated Managers Group by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 38,844 shares of the asset manager’s stock worth $5,882,000 after acquiring an additional 703 shares in the last quarter. Retirement Systems of Alabama grew its stake in Affiliated Managers Group by 11.9% in the fourth quarter. Retirement Systems of Alabama now owns 104,828 shares of the asset manager’s stock worth $15,873,000 after purchasing an additional 11,168 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Affiliated Managers Group during the 4th quarter worth $311,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $160.35 on Friday. The firm has a 50-day simple moving average of $161.52 and a 200-day simple moving average of $149.40. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $169.65. The firm has a market cap of $5.20 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.83. The company had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $7.28 earnings per share. On average, research analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s payout ratio is 0.23%.

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.