Affiliated Managers Group, Inc. $AMG Stock Position Lowered by Reinhart Partners LLC.

Reinhart Partners LLC. cut its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,444 shares of the asset manager’s stock after selling 3,213 shares during the period. Reinhart Partners LLC.’s holdings in Affiliated Managers Group were worth $6,012,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Danske Bank A S bought a new position in shares of Affiliated Managers Group in the second quarter worth $622,000. Bank of America Corp DE bought a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $146,331,000. Engineers Gate Manager LP raised its stake in shares of Affiliated Managers Group by 161.4% during the 2nd quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock valued at $17,550,000 after purchasing an additional 32,023 shares during the period. Sei Investments Co. lifted its holdings in Affiliated Managers Group by 5.2% during the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock worth $29,787,000 after purchasing an additional 5,357 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Affiliated Managers Group by 129.8% during the 2nd quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock worth $2,151,000 after purchasing an additional 3,589 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMG has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating and set a $512.00 target price on shares of Affiliated Managers Group in a report on Tuesday, September 29th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research report on Friday, July 31st. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and an average target price of $386.50.

Affiliated Managers Group Price Performance

AMG opened at $387.88 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $366.27 and its 200 day simple moving average is $336.20. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 0.51 and a beta of 1.07. Affiliated Managers Group, Inc. has a 1 year low of $230.26 and a 1 year high of $393.42.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The firm had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.39 earnings per share. As a group, analysts predict that Affiliated Managers Group, Inc. will post 36.75 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.