Reinhart Partners LLC. Has $8.15 Million Stake in Affiliated Managers Group, Inc. $AMG

Reinhart Partners LLC. lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 41.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,283 shares of the asset manager’s stock after selling 20,287 shares during the period. Reinhart Partners LLC.’s holdings in Affiliated Managers Group were worth $8,154,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Boston Partners boosted its stake in Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Affiliated Managers Group by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock valued at $163,113,000 after purchasing an additional 7,891 shares during the last quarter. Geode Capital Management LLC boosted its stake in Affiliated Managers Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after purchasing an additional 41,322 shares during the last quarter. LSV Asset Management boosted its stake in Affiliated Managers Group by 0.7% during the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Norges Bank acquired a new position in Affiliated Managers Group during the 4th quarter valued at about $113,743,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMG shares. Barrington Research reiterated an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, TD Cowen reiterated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Insider Activity

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director owned 4,369 shares in the company, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,602 shares of company stock valued at $4,240,522. 2.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $311.13 on Wednesday. The company has a market capitalization of $8.22 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.51 and a beta of 1.13. The business has a fifty day simple moving average of $291.49 and a two-hundred day simple moving average of $292.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group, Inc. has a 1 year low of $178.17 and a 1 year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.37 earnings per share. On average, analysts expect that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.