Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,059 shares of the asset manager’s stock after selling 906 shares during the period. Mutual of America Capital Management LLC’s holdings in Affiliated Managers Group were worth $2,530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Versant Capital Management Inc raised its position in Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after acquiring an additional 75 shares during the last quarter. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after buying an additional 83 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $56,000. New Age Alpha Advisors LLC acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $70,000. Finally, TD Private Client Wealth LLC raised its position in shares of Affiliated Managers Group by 16.5% in the first quarter. TD Private Client Wealth LLC now owns 938 shares of the asset manager’s stock valued at $158,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.3%

NYSE AMG opened at $210.01 on Friday. The company’s fifty day simple moving average is $188.30 and its 200-day simple moving average is $176.62. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $212.01. The stock has a market cap of $5.97 billion, a P/E ratio of 15.96, a PEG ratio of 0.64 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. The business had revenue of $496.60 million for the quarter, compared to analysts’ expectations of $508.00 million. During the same period in the previous year, the company posted $5.37 earnings per share. On average, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMG shares. TD Cowen cut their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen reissued a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Bank of America cut 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. Finally, Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $197.80.

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.