Ironwood Investment Counsel LLC Has $421,000 Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Ironwood Investment Counsel LLC cut its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 23.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,515 shares of the asset manager’s stock after selling 765 shares during the period. Ironwood Investment Counsel LLC’s holdings in Affiliated Managers Group were worth $421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMG. Dimensional Fund Advisors LP increased its position in Affiliated Managers Group by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 771,104 shares of the asset manager’s stock worth $116,764,000 after buying an additional 6,265 shares during the period. Allianz Asset Management GmbH increased its holdings in Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after purchasing an additional 92,913 shares during the last quarter. Channing Capital Management LLC increased its holdings in Affiliated Managers Group by 688.9% in the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock valued at $71,855,000 after purchasing an additional 414,389 shares during the last quarter. Norges Bank bought a new stake in Affiliated Managers Group in the fourth quarter valued at about $66,223,000. Finally, LGT Capital Partners LTD. increased its holdings in Affiliated Managers Group by 28.3% in the fourth quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock valued at $59,558,000 after purchasing an additional 86,670 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG traded up $3.35 during midday trading on Monday, reaching $171.29. The company’s stock had a trading volume of 209,355 shares, compared to its average volume of 263,522. The firm has a 50 day moving average price of $159.03 and a two-hundred day moving average price of $158.16. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $174.74. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.59 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. The firm had revenue of $499.90 million during the quarter, compared to analyst estimates of $524.53 million. During the same period in the previous year, the company posted $4.18 EPS. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.59 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.01 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMG. Barrington Research reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, July 11th. TD Cowen increased their target price on Affiliated Managers Group from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Monday, July 8th.

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.