Wellington Management Group LLP Sells 762 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Wellington Management Group LLP trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 17,737 shares of the asset manager’s stock after selling 762 shares during the period. Wellington Management Group LLP owned approximately 0.05% of Affiliated Managers Group worth $2,312,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMG. Mariner LLC lifted its holdings in Affiliated Managers Group by 5.0% during the 4th quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 103 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Affiliated Managers Group by 1.6% during the 2nd quarter. Raymond James Trust N.A. now owns 8,110 shares of the asset manager’s stock valued at $1,216,000 after purchasing an additional 127 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Affiliated Managers Group by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,719 shares of the asset manager’s stock valued at $1,006,000 after acquiring an additional 132 shares in the last quarter. Finally, Nilsine Partners LLC increased its position in Affiliated Managers Group by 8.0% in the 3rd quarter. Nilsine Partners LLC now owns 1,793 shares of the asset manager’s stock valued at $234,000 after acquiring an additional 133 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMG has been the subject of several research reports. Barrington Research raised their price objective on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. TD Cowen initiated coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.20.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $166.27 on Thursday. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $166.43. The company has a 50 day moving average of $156.76 and a 200-day moving average of $143.49. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.60 and a beta of 1.30.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The company had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. During the same quarter in the previous year, the company earned $7.28 EPS. Affiliated Managers Group’s revenue was down 6.8% on a year-over-year basis. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 21.42 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a dividend of $0.01 per share. 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 dividend payout ratio is 0.23%.

About Affiliated Managers Group

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.