Affiliated Managers Group, Inc. $AMG Position Lowered by Altar Rock LLC

Altar Rock LLC reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,722 shares of the asset manager’s stock after selling 2,747 shares during the period. Affiliated Managers Group comprises approximately 5.2% of Altar Rock LLC’s portfolio, making the stock its 6th largest position. Altar Rock LLC’s holdings in Affiliated Managers Group were worth $3,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Affiliated Managers Group by 2.2% in the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after buying an additional 34 shares in the last quarter. Wedmont Private Capital lifted its stake in Affiliated Managers Group by 5.3% during the second quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after purchasing an additional 39 shares during the last quarter. Parallel Advisors LLC lifted its stake in Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares during the last quarter. Allworth Financial LP boosted its holdings in Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after purchasing an additional 45 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Affiliated Managers Group by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group presently has an average rating of “Buy” and an average price target of $370.86.

Affiliated Managers Group Stock Performance

AMG traded up $7.01 during trading on Monday, hitting $362.81. 57,675 shares of the stock were exchanged, compared to its average volume of 344,067. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 1-year low of $230.10 and a 1-year high of $392.92. The stock has a fifty day moving average price of $363.10 and a two-hundred day moving average price of $327.09. The firm has a market capitalization of $9.38 billion, a P/E ratio of 12.57, a PEG ratio of 0.48 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.39 earnings per share. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.14%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.