Mutual of America Capital Management LLC Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Mutual of America Capital Management LLC lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,114 shares of the asset manager’s stock after selling 2,131 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Affiliated Managers Group worth $2,865,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the second quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its stake in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group during the second quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 0.5 %

Affiliated Managers Group stock opened at $187.60 on Friday. The firm has a market cap of $5.67 billion, a PE ratio of 12.24, a P/E/G ratio of 0.68 and a beta of 1.18. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52. The stock’s 50 day simple moving average is $184.78 and its two-hundred day simple moving average is $171.13.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS 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 analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.08 EPS. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Analysts Set New Price Targets

AMG has been the subject of several analyst reports. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research decreased their target price 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. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Company 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.