Kiltearn Partners LLP Sells 89,500 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Kiltearn Partners LLP reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 16.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 464,514 shares of the asset manager's stock after selling 89,500 shares during the quarter. Affiliated Managers Group comprises 11.2% of Kiltearn Partners LLP's investment portfolio, making the stock its largest position. Kiltearn Partners LLP owned approximately 1.56% of Affiliated Managers Group worth $82,591,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group in the second quarter worth $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter worth $30,000. UMB Bank n.a. grew its holdings in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock worth $33,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group during the second quarter valued at $47,000. Finally, Prospera Private Wealth LLC purchased a new position in Affiliated Managers Group in the third quarter worth about $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and cut their target price for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Bank of America lifted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Finally, Barrington Research decreased their target price on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $196.50.

Affiliated Managers Group Trading Down 0.6 %

Shares of NYSE:AMG traded down $1.14 on Wednesday, reaching $188.11. The company had a trading volume of 58,370 shares, compared to its average volume of 237,161. The firm has a market capitalization of $5.69 billion, a PE ratio of 12.31, a PEG ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52-week low of $131.81 and a 52-week high of $199.52. The firm's 50 day simple moving average is $185.35 and its 200-day simple moving average is $171.68.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 EPS. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group's dividend payout ratio is presently 0.26%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.