Affiliated Managers Group, Inc. $AMG Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 83.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,100 shares of the asset manager’s stock after selling 51,715 shares during the quarter. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $2,408,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Procyon Advisors LLC lifted its holdings in Affiliated Managers Group by 3.1% in the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock worth $393,000 after purchasing an additional 50 shares during the period. Millstone Evans Group LLC lifted its position in Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after buying an additional 52 shares in the last quarter. Guinness Asset Management LTD grew its stake in Affiliated Managers Group by 2.4% in the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock valued at $629,000 after purchasing an additional 74 shares in the last quarter. Citigroup Inc. increased its holdings in Affiliated Managers Group by 0.8% in the third quarter. Citigroup Inc. now owns 9,363 shares of the asset manager’s stock worth $2,232,000 after buying an additional 77 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Affiliated Managers Group by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock valued at $318,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $291.12 on Tuesday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $334.78. The firm has a fifty day moving average of $306.07 and a 200-day moving average of $265.47. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter in the previous year, the business posted $6.53 EPS. Affiliated Managers Group’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMG. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. Barrington Research lifted their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group upped their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.14.

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.