Jane Street Group LLC Cuts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Jane Street Group LLC trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 28.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 84,852 shares of the asset manager’s stock after selling 34,257 shares during the quarter. Jane Street Group LLC’s holdings in Affiliated Managers Group were worth $15,087,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMG. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its position in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at about $47,000. Finally, Prospera Private Wealth LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at about $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMG has been the topic of several research analyst reports. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research lowered their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Stock Up 0.3 %

Shares of NYSE:AMG opened at $185.36 on Wednesday. The firm’s 50 day moving average price is $187.13 and its 200-day moving average price is $173.61. Affiliated Managers Group, Inc. has a twelve month low of $138.85 and a twelve month high of $199.52. The stock has a market capitalization of $5.60 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter last year, the company earned $4.08 EPS. Affiliated Managers Group’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

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.