Oppenheimer Asset Management Inc. Sells 1,613 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Oppenheimer Asset Management Inc. lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,439 shares of the asset manager's stock after selling 1,613 shares during the period. Oppenheimer Asset Management Inc. owned 0.06% of Affiliated Managers Group worth $3,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Empirical Asset Management LLC grew its holdings in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager's stock valued at $347,000 after purchasing an additional 188,568 shares during the last quarter. Goodman Financial Corp acquired a new position in Affiliated Managers Group during the third quarter valued at approximately $14,035,000. Barclays PLC grew its holdings in Affiliated Managers Group by 261.0% during the third quarter. Barclays PLC now owns 76,488 shares of the asset manager's stock valued at $13,600,000 after purchasing an additional 55,302 shares during the last quarter. Bank of Montreal Can grew its holdings in Affiliated Managers Group by 328.2% during the third quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager's stock valued at $12,420,000 after purchasing an additional 54,003 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Affiliated Managers Group by 70.6% during the third quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager's stock valued at $17,793,000 after purchasing an additional 41,413 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

AMG has been the topic of several analyst reports. Barrington Research increased their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. TD Cowen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $198.40.

Affiliated Managers Group Stock Performance

AMG stock traded down $3.84 during midday trading on Monday, hitting $167.01. The stock had a trading volume of 232,686 shares, compared to its average volume of 224,196. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.57 and a beta of 1.15. Affiliated Managers Group, Inc. has a 52 week low of $147.13 and a 52 week high of $199.52. The stock has a 50-day simple moving average of $180.26 and a 200 day simple moving average of $181.12. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

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, topping 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, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. 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 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.