Redwood Investment Management LLC Sells 1,545 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Redwood Investment Management LLC decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,706 shares of the asset manager’s stock after selling 1,545 shares during the period. Redwood Investment Management LLC’s holdings in Affiliated Managers Group were worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners raised its holdings in shares of Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock valued at $218,975,000 after purchasing an additional 373,696 shares during the period. Norges Bank bought a new stake in Affiliated Managers Group in the 4th quarter worth about $68,683,000. Empirical Asset Management LLC grew its position in Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after purchasing an additional 188,568 shares in the last quarter. LSV Asset Management grew its position in shares of Affiliated Managers Group by 79.1% during the 4th quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after acquiring an additional 187,290 shares during the period. Finally, Millennium Management LLC grew its position in shares of Affiliated Managers Group by 119.2% during the 4th quarter. Millennium Management LLC now owns 305,497 shares of the asset manager’s stock valued at $56,493,000 after acquiring an additional 166,144 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AMG shares. Bank of America dropped 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 note on Thursday, April 3rd. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. TD Cowen reduced their target price on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $192.40.

Affiliated Managers Group Trading Down 0.6%

NYSE:AMG opened at $180.94 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $199.52. The company has a market cap of $5.21 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.57 and a beta of 1.06. The company has a 50 day simple moving average of $164.97 and a two-hundred day simple moving average of $175.85.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. The company had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. During the same quarter in the prior year, the firm posted $5.37 EPS. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

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.