Jacobs Levy Equity Management Inc. Reduces Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 15.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,530 shares of the asset manager's stock after selling 30,566 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.57% of Affiliated Managers Group worth $29,965,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 481.3% in the third 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. acquired a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $47,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Affiliated Managers Group during the third quarter worth $47,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barrington Research decreased their price target on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. TD Cowen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $196.50.

Affiliated Managers Group Stock Performance

NYSE:AMG traded up $1.68 during trading hours on Wednesday, hitting $186.29. The company's stock had a trading volume of 45,111 shares, compared to its average volume of 235,187. The business's 50-day moving average is $186.25 and its two-hundred day moving average is $172.67. The company has a market capitalization of $5.63 billion, a PE ratio of 12.05, a PEG ratio of 0.68 and a beta of 1.15. Affiliated Managers Group, Inc. has a 52-week low of $135.22 and a 52-week high of $199.52.

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 the consensus estimate 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 business had revenue of $525.20 million during the quarter, compared to analysts' expectations of $521.87 million. During the same quarter in the previous year, the company posted $4.08 EPS. The company's revenue was up 1.7% compared to the same quarter last year. As a group, analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group's dividend payout ratio is currently 0.26%.

Affiliated Managers Group 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.