State Street Corp Sells 18,931 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

State Street Corp trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,012,338 shares of the asset manager’s stock after selling 18,931 shares during the quarter. State Street Corp’s holdings in Affiliated Managers Group were worth $179,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Affiliated Managers Group by 107.8% during the second quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 499 shares during the period. Raymond James & Associates increased its holdings in Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after acquiring an additional 20,514 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Affiliated Managers Group by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock worth $1,269,000 after acquiring an additional 150 shares during the last quarter. Summit Global Investments bought a new stake in Affiliated Managers Group in the 2nd quarter valued at about $618,000. Finally, Lecap Asset Management Ltd. lifted its holdings in Affiliated Managers Group by 44.7% during the second quarter. Lecap Asset Management Ltd. now owns 7,651 shares of the asset manager’s stock valued at $1,195,000 after purchasing an additional 2,364 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the subject of a number of recent research reports. 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 research note on Monday, November 11th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Barrington Research decreased their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $196.50.

Affiliated Managers Group Trading Up 0.0 %

Shares of Affiliated Managers Group stock opened at $188.85 on Friday. The firm has a market capitalization of $5.71 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15. Affiliated Managers Group, Inc. has a 12 month low of $140.60 and a 12 month high of $199.52. The business’s 50-day moving average price is $187.51 and its 200-day moving average price is $173.82.

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). The business had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.08 earnings per share. As a group, analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Affiliated Managers Group 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.