Renaissance Technologies LLC Reduces Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Renaissance Technologies LLC decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 54.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,400 shares of the asset manager's stock after selling 54,400 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of Affiliated Managers Group worth $8,395,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after buying an additional 62 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Affiliated Managers Group by 131.9% in the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group in the third quarter worth about $46,000. UMB Bank n.a. grew its stake in shares of Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after purchasing an additional 69 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their price objective for the company from $193.00 to $191.00 in a research report on Monday, January 6th. TD Cowen reduced their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Bank of America reduced their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Barrington Research reduced their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.40.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $4.86 during trading hours on Wednesday, hitting $163.34. The company's stock had a trading volume of 26,934 shares, compared to its average volume of 234,890. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $199.52. The company's 50 day simple moving average is $162.81 and its two-hundred day simple moving average is $177.76. The company has a market cap of $4.70 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's payout ratio is 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.