Cubic Asset Management LLC Has $549,000 Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Cubic Asset Management LLC trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 43.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,894 shares of the asset manager’s stock after selling 3,005 shares during the quarter. Cubic Asset Management LLC’s holdings in Affiliated Managers Group were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMG. Rockefeller Capital Management L.P. boosted its holdings in shares of Affiliated Managers Group by 70.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock worth $33,000 after acquiring an additional 85 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Affiliated Managers Group by 47.1% in the fourth quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock worth $53,000 after acquiring an additional 104 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $63,000 after purchasing an additional 211 shares in the last quarter. KBC Group NV acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at $67,000. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at $79,000. 96.35% of the stock is owned by institutional investors.

AMG opened at $120.13 on Wednesday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 9.13, a P/E/G ratio of 0.66 and a beta of 1.33. Affiliated Managers Group, Inc. has a 12 month low of $112.38 and a 12 month high of $191.62. The firm’s fifty day simple moving average is $125.60 and its 200 day simple moving average is $137.65.

Affiliated Managers Group (NYSE:AMGGet Rating) last released its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.33. Affiliated Managers Group had a return on equity of 22.99% and a net margin of 22.84%. The firm had revenue of $607.30 million for the quarter, compared to the consensus estimate of $662.80 million. During the same quarter last year, the business posted $4.28 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 18.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.30%.

A number of analysts recently commented on AMG shares. Barrington Research lowered their price objective on Affiliated Managers Group from $190.00 to $160.00 in a research report on Monday, May 2nd. Keefe, Bruyette & Woods cut their price objective on shares of Affiliated Managers Group from $167.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft cut their price target on Affiliated Managers Group from $162.00 to $152.00 in a research note on Thursday, May 19th. Finally, Citigroup reduced their price objective on shares of Affiliated Managers Group from $241.00 to $222.00 in a research note on Tuesday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.57.

Affiliated Managers Group Profile (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.

Read More

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMGGet Rating).

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

Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.