Legal & General Group Plc Decreases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Legal & General Group Plc cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,444 shares of the asset manager’s stock after selling 4,681 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of Affiliated Managers Group worth $8,773,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Boston Partners raised its stake in Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock valued at $218,975,000 after buying an additional 373,696 shares in the last quarter. Norges Bank purchased a new position in Affiliated Managers Group during the 4th quarter worth $68,683,000. Empirical Asset Management LLC increased its position in Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the period. Raymond James Financial Inc. purchased a new stake in Affiliated Managers Group during the 4th quarter valued at approximately $28,818,000. Finally, Fisher Asset Management LLC lifted its position in Affiliated Managers Group by 84.3% during the 4th quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock worth $28,886,000 after acquiring an additional 71,458 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Trading Up 0.3 %

Shares of Affiliated Managers Group stock opened at $156.05 on Friday. The company has a 50-day moving average of $163.62 and a two-hundred day moving average of $178.25. The stock has a market cap of $4.57 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $199.52.

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 return on equity of 16.17% and a net margin of 25.06%. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMG shares. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Bank of America reduced their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Finally, TD Cowen reduced their price target on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.40.

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.