JPMorgan Chase & Co. Sells 12,614 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

JPMorgan Chase & Co. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,116 shares of the asset manager's stock after selling 12,614 shares during the period. JPMorgan Chase & Co. owned about 0.54% of Affiliated Managers Group worth $30,348,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of 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 grew its holdings in Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after acquiring an additional 124 shares during the last quarter. UMB Bank n.a. grew its holdings in Affiliated Managers Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager's stock worth $47,000 after acquiring an additional 69 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Affiliated Managers Group in the 3rd quarter valued at approximately $46,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Affiliated Managers Group by 68.6% during the third quarter. TD Private Client Wealth LLC now owns 826 shares of the asset manager's stock valued at $147,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

AMG has been the topic of several analyst reports. TD Cowen reduced their target price on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday. The Goldman Sachs Group cut shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Bank of America dropped their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and an average price target of $192.40.

Affiliated Managers Group Stock Up 2.9 %

NYSE AMG traded up $4.51 on Friday, hitting $158.04. 227,718 shares of the company were exchanged, compared to its average volume of 237,930. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.62 billion, a PE ratio of 10.47, a PEG ratio of 0.57 and a beta of 1.09. The stock has a fifty day moving average of $165.44 and a 200-day moving average of $178.82.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group's payout ratio is 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.