Alliancebernstein L.P. Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Alliancebernstein L.P. cut its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,532 shares of the asset manager's stock after selling 10,560 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of Affiliated Managers Group worth $7,310,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after buying an additional 62 shares in the last quarter. Private Trust Co. NA increased its position in shares of Affiliated Managers Group by 131.9% during the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock valued at $40,000 after acquiring an additional 124 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Affiliated Managers Group during the third quarter worth $46,000. UMB Bank n.a. boosted its position in 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 position in Affiliated Managers Group in the 4th quarter valued at $70,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AMG. Bank of America lowered their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. TD Cowen lowered their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Barrington Research reduced their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of "Moderate Buy" and an average target price of $192.40.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG traded up $1.66 during midday trading on Thursday, hitting $157.26. The company's stock had a trading volume of 21,543 shares, compared to its average volume of 236,596. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.57 and a beta of 1.09. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $164.03 and a 200 day moving average price of $178.40. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group's payout ratio is 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.