Clarkston Capital Partners LLC Trims Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Clarkston Capital Partners LLC reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,775,252 shares of the asset manager's stock after selling 53,137 shares during the quarter. Affiliated Managers Group makes up about 5.8% of Clarkston Capital Partners LLC's holdings, making the stock its 4th largest position. Clarkston Capital Partners LLC owned about 5.96% of Affiliated Managers Group worth $315,640,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Ariel Investments LLC grew its position in Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock worth $225,411,000 after buying an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Affiliated Managers Group by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager's stock worth $129,065,000 after purchasing an additional 30,059 shares during the last quarter. LSV Asset Management lifted its stake in Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager's stock worth $37,574,000 after purchasing an additional 2,000 shares during the last quarter. Raymond James & Associates lifted its stake in Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager's stock worth $36,659,000 after purchasing an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Affiliated Managers Group by 6.7% during the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager's stock worth $32,919,000 after purchasing an additional 11,565 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Affiliated Managers Group Stock Performance

Shares of AMG stock traded down $1.28 on Monday, reaching $185.14. The stock had a trading volume of 151,538 shares, compared to its average volume of 239,547. The stock has a market cap of $5.60 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 1 year low of $131.34 and a 1 year high of $199.52. The company has a 50 day simple moving average of $183.24 and a 200 day simple moving average of $170.44.

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

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.26%.

About Affiliated Managers Group

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.