Allianz Asset Management GmbH Cuts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Allianz Asset Management GmbH decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 343,685 shares of the asset manager’s stock after selling 10,905 shares during the period. Allianz Asset Management GmbH’s holdings in Affiliated Managers Group were worth $63,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its holdings in Affiliated Managers Group by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 192,524 shares of the asset manager’s stock valued at $35,602,000 after buying an additional 7,377 shares in the last quarter. Empirical Asset Management LLC increased its holdings in Affiliated Managers Group by 10,522.8% in the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after buying an additional 188,568 shares in the last quarter. Basswood Capital Management L.L.C. increased its holdings in Affiliated Managers Group by 22.7% in the third 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 in the last quarter. Victory Capital Management Inc. increased its holdings in Affiliated Managers Group by 13.9% in the third quarter. Victory Capital Management Inc. now owns 113,191 shares of the asset manager’s stock valued at $20,125,000 after buying an additional 13,784 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Affiliated Managers Group by 18.3% in the third quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager’s stock valued at $19,363,000 after buying an additional 15,746 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $166.04 on Friday. The firm has a market capitalization of $4.86 billion, a PE ratio of 11.00, a PEG ratio of 0.59 and a beta of 1.15. Affiliated Managers Group, Inc. has a twelve month low of $147.13 and a twelve month high of $199.52. The firm’s 50-day moving average price is $181.82 and its 200 day moving average price is $180.91. The company has a current ratio of 2.13, a quick ratio of 0.45 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.85 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Barrington Research boosted their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.40.

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.