UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Affiliated Managers Group, Inc. $AMG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 27.6% in the second quarter, HoldingsChannel reports. The firm owned 74,871 shares of the asset manager’s stock after selling 28,602 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Affiliated Managers Group were worth $25,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at about $622,000. Fisher Asset Management LLC raised its position in Affiliated Managers Group by 19.7% during the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after acquiring an additional 40,107 shares in the last quarter. Sei Investments Co. raised its position in Affiliated Managers Group by 5.2% during the first quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after acquiring an additional 5,357 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Affiliated Managers Group in the first quarter valued at approximately $7,164,000. Finally, Deutsche Bank AG acquired a new position in Affiliated Managers Group in the second quarter valued at approximately $13,432,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $363.40 on Friday. The firm has a market cap of $9.40 billion, a PE ratio of 12.59, a PEG ratio of 0.48 and a beta of 1.10. The firm has a fifty day moving average of $361.85 and a 200 day moving average of $323.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. Affiliated Managers Group, Inc. has a one year low of $228.52 and a one year high of $392.92.

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

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on AMG shares. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. TD Cowen reissued a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $370.86.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

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.