Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,111 shares of the asset manager’s stock after selling 87 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Affiliated Managers Group were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in Affiliated Managers Group in the 3rd quarter worth approximately $2,592,000. Asset Management One Co. Ltd. raised its holdings in shares of Affiliated Managers Group by 94.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock valued at $1,884,000 after purchasing an additional 5,142 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $543,000. Empirical Asset Management LLC raised its holdings in shares of Affiliated Managers Group by 10,522.8% during the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after purchasing an additional 188,568 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $2,130,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research lifted their price target on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.40.

Affiliated Managers Group Trading Down 2.2 %

AMG opened at $167.01 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.57 and a beta of 1.15. The firm has a 50 day simple moving average of $180.26 and a 200 day simple moving average of $181.12. Affiliated Managers Group, Inc. has a fifty-two week low of $147.13 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, sell-side analysts anticipate 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 will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

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.