Victory Capital Management Inc. Sells 721 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Victory Capital Management Inc. cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMGFree Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,141 shares of the asset manager’s stock after selling 721 shares during the period. Victory Capital Management Inc. owned about 0.11% of Affiliated Managers Group worth $4,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 31.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 426 shares of the asset manager’s stock valued at $64,000 after buying an additional 102 shares during the period. Mariner LLC grew its stake in shares of Affiliated Managers Group by 5.0% in the 4th quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock valued at $343,000 after buying an additional 103 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Affiliated Managers Group by 26.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 512 shares of the asset manager’s stock valued at $77,000 after buying an additional 106 shares during the period. Lazard Asset Management LLC grew its stake in shares of Affiliated Managers Group by 76.3% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after buying an additional 119 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of Affiliated Managers Group by 1.6% in 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 buying an additional 127 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Up 0.1 %

Affiliated Managers Group stock opened at $154.31 on Thursday. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $170.28. The company’s 50 day moving average price is $148.27 and its two-hundred day moving average price is $137.96. The stock has a market cap of $5.22 billion, a P/E ratio of 8.89, a P/E/G ratio of 0.83 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMGGet Free Report) last posted its 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 firm had revenue of $502.70 million for the quarter, compared to analysts’ expectations of $524.98 million. During the same quarter last year, the firm earned $7.28 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 20.97 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 15th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Barrington Research lifted their price target on Affiliated Managers Group from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft cut their price target on Affiliated Managers Group from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. Finally, TD Cowen initiated coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.20.

Check Out Our Latest Stock Analysis on AMG

About Affiliated Managers Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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