Bruni J V & Co. Co. Cuts Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Bruni J V & Co. Co. decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,895 shares of the asset manager's stock after selling 4,516 shares during the quarter. Affiliated Managers Group accounts for about 6.0% of Bruni J V & Co. Co.'s investment portfolio, making the stock its 5th largest holding. Bruni J V & Co. Co. owned approximately 1.02% of Affiliated Managers Group worth $53,855,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Affiliated Managers Group in the third quarter valued at approximately $30,000. UMB Bank n.a. grew its position in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

AMG has been the subject of several recent research reports. Bank of America increased their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. TD Cowen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Barrington Research decreased their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of "Hold" and a consensus target price of $196.50.

Affiliated Managers Group Price Performance

AMG traded down $1.99 during trading hours on Tuesday, hitting $183.15. 163,909 shares of the stock were exchanged, compared to its average volume of 239,209. The stock has a 50-day simple moving average of $183.61 and a 200-day simple moving average of $170.60. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18.

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

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group's dividend payout ratio (DPR) 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.