Bank of Montreal Can Trims Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of Montreal Can lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 74.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,831 shares of the asset manager’s stock after selling 52,626 shares during the period. Bank of Montreal Can’s holdings in Affiliated Managers Group were worth $3,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMG. Jones Financial Companies Lllp boosted its holdings in Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after buying an additional 62 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock worth $40,000 after buying an additional 124 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $46,000. UMB Bank n.a. lifted its holdings in Affiliated Managers Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 69 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Affiliated Managers Group in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMG. Barrington Research reduced their target price 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. TD Cowen reduced their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America lowered their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.40.

Affiliated Managers Group Stock Up 0.1 %

Shares of NYSE:AMG opened at $158.76 on Wednesday. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $199.52. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $164.48 and a two-hundred day moving average of $178.55. The stock has a market cap of $4.64 billion, a P/E ratio of 10.51, a PEG ratio of 0.57 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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