Affiliated Managers Group, Inc. $AMG Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,334 shares of the asset manager’s stock after selling 16,747 shares during the quarter. North Star Asset Management Inc. owned 0.30% of Affiliated Managers Group worth $20,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. LSV Asset Management grew 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 worth $114,357,000 after purchasing an additional 3,400 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after buying an additional 50,219 shares during the period. Norges Bank acquired a new position in shares of Affiliated Managers Group during the second quarter worth about $71,779,000. Balyasny Asset Management L.P. raised its holdings in Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock worth $46,178,000 after acquiring an additional 36,045 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on AMG. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Barrington Research raised their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, UBS Group set a $295.00 price objective on Affiliated Managers Group in a report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $302.02 on Wednesday. The company’s 50 day simple moving average is $306.64 and its 200-day simple moving average is $266.11. The firm has a market cap of $8.06 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 0.49 and a beta of 1.21. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The firm had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. Affiliated Managers Group’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.53 EPS. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, February 23rd. Affiliated Managers Group’s payout ratio is 0.17%.

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.