Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 317,930 shares of the asset manager's stock after selling 12,500 shares during the quarter. Affiliated Managers Group makes up about 2.0% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 20th largest position. LGT Capital Partners LTD. owned approximately 1.07% of Affiliated Managers Group worth $56,528,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ensign Peak Advisors Inc lifted its holdings in shares of Affiliated Managers Group by 0.6% during the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager's stock worth $1,547,000 after buying an additional 60 shares in the last quarter. Blair William & Co. IL grew its stake in Affiliated Managers Group by 0.5% during the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager's stock valued at $2,164,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd lifted its position in Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager's stock valued at $84,000 after purchasing an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager's stock worth $838,000 after acquiring an additional 90 shares during the last quarter. Finally, Kendall Capital Management grew its holdings in shares of Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager's stock worth $646,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMG. StockNews.com downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. TD Cowen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Barrington Research cut their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to 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 0.8 %

NYSE:AMG traded down $1.56 during trading hours on Tuesday, hitting $183.58. The company's stock had a trading volume of 97,290 shares, compared to its average volume of 238,912. The stock has a market capitalization of $5.55 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. The stock has a fifty day moving average of $183.24 and a 200-day moving average of $170.44. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued 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). The firm had revenue of $525.20 million for 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 revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.08 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a $0.01 dividend. 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 Company 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.