Polar Capital Holdings Plc Sells 32,000 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Polar Capital Holdings Plc lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 36.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,532 shares of the asset manager’s stock after selling 32,000 shares during the period. Polar Capital Holdings Plc’s holdings in Affiliated Managers Group were worth $10,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMG. Boston Partners increased its position in Affiliated Managers Group by 46.1% during the 4th 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 bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $68,683,000. Empirical Asset Management LLC increased its holdings in shares of 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 worth $347,000 after purchasing an additional 188,568 shares in the last quarter. LSV Asset Management increased its holdings in shares of Affiliated Managers Group by 79.1% in the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock worth $78,405,000 after purchasing an additional 187,290 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Affiliated Managers Group by 119.2% in the 4th quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock worth $56,493,000 after purchasing an additional 166,144 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

AMG has been the subject of a number of research analyst reports. TD Cowen reduced their target price 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. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research cut their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Finally, Bank of America cut their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.40.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $180.94 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52. The firm has a market capitalization of $5.21 billion, a P/E ratio of 11.98, a PEG ratio of 0.57 and a beta of 1.06. The business has a fifty day moving average of $164.97 and a 200 day moving average of $175.85.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping the consensus estimate of $5.10 by $0.10. The company had revenue of $496.60 million during the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same quarter in the previous year, the company posted $5.37 earnings per share. As a group, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, May 19th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.30%.

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.