Affiliated Managers Group, Inc. (AMG) Position Decreased by Glen Harbor Capital Management LLC

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Glen Harbor Capital Management LLC decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,724 shares of the asset manager’s stock after selling 43,792 shares during the period. Glen Harbor Capital Management LLC’s holdings in Affiliated Managers Group were worth $6,501,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its position in Affiliated Managers Group by 5.2% in the first quarter. BlackRock Inc. now owns 3,607,966 shares of the asset manager’s stock worth $684,000,000 after acquiring an additional 177,524 shares during the period. EdgePoint Investment Group Inc. raised its position in Affiliated Managers Group by 28.7% in the second quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock worth $432,145,000 after acquiring an additional 648,919 shares during the period. Schroder Investment Management Group raised its position in Affiliated Managers Group by 10.6% in the first quarter. Schroder Investment Management Group now owns 907,622 shares of the asset manager’s stock worth $172,066,000 after acquiring an additional 87,038 shares during the period. Schwab Charles Investment Management Inc. raised its position in Affiliated Managers Group by 91.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock worth $86,844,000 after acquiring an additional 278,337 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Affiliated Managers Group by 24.2% in the first quarter. JPMorgan Chase & Co. now owns 565,350 shares of the asset manager’s stock worth $107,180,000 after acquiring an additional 110,284 shares during the period. 94.22% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have commented on AMG shares. Deutsche Bank lowered their price objective on shares of Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Friday, June 29th. Citigroup boosted their price target on shares of Affiliated Managers Group from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Barrington Research lowered their price target on shares of Affiliated Managers Group from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, July 16th. Finally, TheStreet lowered shares of Affiliated Managers Group from a “b-” rating to a “c+” rating in a research report on Monday, June 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $207.63.

NYSE AMG opened at $143.84 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $142.79 and a 12-month high of $216.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $7.73 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.02. Affiliated Managers Group had a net margin of 29.59% and a return on equity of 19.44%. The company had revenue of $600.10 million for the quarter, compared to analyst estimates of $604.68 million. During the same quarter in the previous year, the firm posted $3.33 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. research analysts predict that Affiliated Managers Group, Inc. will post 15.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $1.20 annualized dividend and a yield of 0.83%. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

See Also: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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