Voya Investment Management LLC Reduces Stake in Affiliated Managers Group, Inc. $AMG

Voya Investment Management LLC lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 57.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,356 shares of the asset manager’s stock after selling 15,378 shares during the quarter. Voya Investment Management LLC’s holdings in Affiliated Managers Group were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMG. Cooper Financial Group bought a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $227,000. GAMMA Investing LLC increased its holdings in Affiliated Managers Group by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock worth $318,000 after acquiring an additional 81 shares during the period. Texas Permanent School Fund Corp lifted its stake in Affiliated Managers Group by 2.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 25,744 shares of the asset manager’s stock worth $5,066,000 after purchasing an additional 730 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Affiliated Managers Group by 93.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,547 shares of the asset manager’s stock valued at $744,000 after purchasing an additional 1,718 shares during the period. Finally, State of Wyoming purchased a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $73,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 1.6%

NYSE AMG opened at $295.88 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $262.63 and its two-hundred day simple moving average is $233.35. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $299.69. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.65 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The firm had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.82 EPS. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.24%.

Analyst Upgrades and Downgrades

AMG has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. TD Cowen upped their target price on Affiliated Managers Group to $485.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. The Goldman Sachs Group raised their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 6th. Barrington Research boosted their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and an average target price of $328.67.

Affiliated Managers Group Company Profile

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.