Franklin Resources Inc. Has $15.26 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Franklin Resources Inc. cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 19.0% in the fourth quarter, HoldingsChannel reports. The fund owned 82,543 shares of the asset manager’s stock after selling 19,370 shares during the quarter. Franklin Resources Inc.’s holdings in Affiliated Managers Group were worth $15,264,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Boston Partners grew its stake in shares of Affiliated Managers Group by 46.1% in the 4th quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock valued at $218,975,000 after buying an additional 373,696 shares in the last quarter. Norges Bank acquired a new stake in Affiliated Managers Group in the 4th quarter worth $68,683,000. Empirical Asset Management LLC increased its stake in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Affiliated Managers Group during the fourth quarter valued at approximately $28,818,000. Finally, Fisher Asset Management LLC increased its holdings in Affiliated Managers Group by 84.3% in the 4th quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock valued at $28,886,000 after buying an additional 71,458 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $145.23 on Tuesday. The stock has a fifty day moving average of $169.47 and a 200-day moving average of $179.84. The stock has a market capitalization of $4.25 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barrington Research increased their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 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. The Goldman Sachs Group cut 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 note on Monday, January 6th. Finally, Bank of America lowered 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $197.20.

About Affiliated Managers Group

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.