Jane Street Group LLC Trims Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Jane Street Group LLC cut its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 28.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,852 shares of the asset manager's stock after selling 34,257 shares during the quarter. Jane Street Group LLC owned approximately 0.28% of Affiliated Managers Group worth $15,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group in the second quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the third quarter worth about $30,000. UMB Bank n.a. lifted its holdings in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $47,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Affiliated Managers Group during the third quarter valued at approximately $47,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG traded up $3.43 during midday trading on Wednesday, hitting $188.79. 234,480 shares of the stock traded hands, compared to its average volume of 234,723. The firm has a 50-day moving average of $187.13 and a two-hundred day moving average of $173.61. The firm has a market capitalization of $5.71 billion, a P/E ratio of 12.09, a PEG ratio of 0.67 and a beta of 1.15. Affiliated Managers Group, Inc. has a one year low of $139.23 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.08 earnings per share. Equities analysts forecast that Affiliated Managers Group, Inc. will post 20.91 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 Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft lifted 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. TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research lowered their price objective on 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $196.50.

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.