Allspring Global Investments Holdings LLC Reduces Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Allspring Global Investments Holdings LLC lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,468 shares of the asset manager’s stock after selling 9,590 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Affiliated Managers Group worth $2,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quent Capital LLC lifted its position in Affiliated Managers Group by 5.4% during the fourth quarter. Quent Capital LLC now owns 1,354 shares of the asset manager’s stock valued at $205,000 after buying an additional 69 shares during the period. Blue Trust Inc. lifted its position in Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after buying an additional 90 shares during the period. Mariner LLC lifted its position in Affiliated Managers Group by 5.0% during the fourth 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. Lazard Asset Management LLC lifted its position in Affiliated Managers Group by 76.3% during the first 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. lifted its position in Affiliated Managers Group by 1.6% during the second 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. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on AMG shares. TD Cowen began coverage on Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company. Barrington Research raised their price target on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $158.50 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $169.65. The business has a fifty day moving average price of $160.81 and a 200-day moving average price of $147.23. The company has a market capitalization of $5.14 billion, a PE ratio of 9.14, a PEG ratio of 0.55 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data 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 return on equity of 16.29% and a net margin of 32.71%. The company had revenue of $502.70 million during the quarter, compared to the consensus estimate of $524.98 million. During the same period last year, the company earned $7.28 EPS. Affiliated Managers Group’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.23%.

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.