Cornercap Investment Counsel Inc. Sells 3,690 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 53.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,229 shares of the asset manager's stock after selling 3,690 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Affiliated Managers Group were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group during the second quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $50,000. Institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMG. StockNews.com cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Barrington Research cut their target price on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. TD Cowen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Bank of America upped their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of "Hold" and an average price target of $196.50.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 9,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now owns 377,276 shares of the company's stock, valued at approximately $64,883,926.48. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded down $0.78 during trading on Friday, reaching $186.42. 177,939 shares of the stock traded hands, compared to its average volume of 239,944. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52-week low of $131.34 and a 52-week high of $199.52. The business has a fifty day simple moving average of $182.85 and a two-hundred day simple moving average of $170.18.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) 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 firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the previous year, the firm earned $4.08 EPS. The business's revenue was up 1.7% compared to the same quarter last year. On average, research analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is currently 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.