Congress Wealth Management LLC DE Cuts Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Congress Wealth Management LLC DE reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 64.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,307 shares of the asset manager's stock after selling 2,345 shares during the period. Congress Wealth Management LLC DE's holdings in Affiliated Managers Group were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMG. Jones Financial Companies Lllp raised its holdings in Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after buying an additional 124 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after buying an additional 69 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Affiliated Managers Group in the 3rd quarter valued at about $46,000. Finally, Brooklyn Investment Group purchased a new position in Affiliated Managers Group during the 3rd quarter valued at about $49,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Trading Up 0.9 %

AMG stock traded up $1.53 during midday trading on Tuesday, hitting $169.56. The stock had a trading volume of 165,967 shares, compared to its average volume of 236,803. The company's 50-day moving average price is $172.27 and its 200 day moving average price is $180.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $4.96 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. Affiliated Managers Group, Inc. has a 12-month low of $147.13 and a 12-month high of $199.52.

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

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's payout ratio is currently 0.26%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, Barrington Research boosted their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $198.40.

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.