Geode Capital Management LLC Sells 16,634 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Geode Capital Management LLC reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 526,041 shares of the asset manager's stock after selling 16,634 shares during the quarter. Geode Capital Management LLC owned 1.76% of Affiliated Managers Group worth $93,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group in the third quarter worth $30,000. UMB Bank n.a. boosted its holdings in Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock worth $33,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Affiliated Managers Group in the second quarter valued at $47,000. Finally, Prospera Private Wealth LLC acquired a new stake in Affiliated Managers Group in the 3rd quarter valued at $47,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 1.7 %

Shares of AMG stock traded up $2.99 on Friday, reaching $182.53. The stock had a trading volume of 792,663 shares, compared to its average volume of 236,615. Affiliated Managers Group, Inc. has a 12 month low of $145.36 and a 12 month high of $199.52. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 0.69 and a beta of 1.15. The firm's 50-day moving average is $187.71 and its two-hundred day moving average is $174.64.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.08 earnings per share. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group's payout ratio is presently 0.26%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. TD Cowen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $196.50.

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.