JPMorgan Chase & Co. Decreases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

JPMorgan Chase & Co. decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,730 shares of the asset manager's stock after selling 5,383 shares during the quarter. JPMorgan Chase & Co. owned about 0.58% of Affiliated Managers Group worth $31,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $30,000. Altshuler Shaham Ltd bought a new position in shares of Affiliated Managers Group in the second quarter worth $28,000. UMB Bank n.a. raised its position 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 worth $33,000 after buying an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Affiliated Managers Group during the third quarter valued at $46,000. Finally, Prospera Private Wealth LLC purchased a new position in Affiliated Managers Group during the third quarter worth about $47,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMG shares. The Goldman Sachs Group cut Affiliated Managers Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $193.00 to $191.00 in a report on Monday. 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 research report on Monday, November 11th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of "Hold" and a consensus target price of $195.40.

Affiliated Managers Group Stock Down 2.1 %

Shares of NYSE:AMG traded down $3.80 during midday trading on Tuesday, reaching $180.40. The company's stock had a trading volume of 199,776 shares, compared to its average volume of 219,519. Affiliated Managers Group, Inc. has a 12-month low of $145.36 and a 12-month high of $199.52. The firm has a market capitalization of $5.45 billion, a P/E ratio of 11.77, a PEG ratio of 0.69 and a beta of 1.15. The firm has a 50 day moving average of $186.07 and a 200-day moving average of $177.71.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data 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 net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period last year, the business earned $4.08 EPS. The firm's quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

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.