Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,842 shares of the asset manager's stock after selling 14,221 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.10% of Affiliated Managers Group worth $58,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ariel Investments LLC lifted its stake in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock valued at $225,411,000 after buying an additional 115,808 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager's stock worth $15,530,000 after acquiring an additional 59,659 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Affiliated Managers Group by 70.6% during the third quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager's stock valued at $17,793,000 after acquiring an additional 41,413 shares during the last quarter. Algert Global LLC boosted its stake in shares of Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager's stock valued at $13,944,000 after acquiring an additional 38,206 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Affiliated Managers Group by 59.1% during the 2nd quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager's stock worth $14,092,000 after purchasing an additional 33,500 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on AMG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a report on Monday, November 11th. Barrington Research decreased their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Finally, TD Cowen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating and cut their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $196.50.

Affiliated Managers Group Stock Down 0.5 %

Shares of AMG stock traded down $0.92 during trading hours on Friday, hitting $187.54. 83,337 shares of the company were exchanged, compared to its average volume of 236,745. The firm has a fifty day moving average of $185.98 and a 200 day moving average of $172.13. Affiliated Managers Group, Inc. has a 1 year low of $134.61 and a 1 year high of $199.52. The firm has a market cap of $5.67 billion, a PE ratio of 12.26, a PEG ratio of 0.69 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million for the quarter, compared to analysts' expectations of $521.87 million. During the same period in the prior year, the business earned $4.08 EPS. The business's revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was 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.