Stifel Financial Corp Sells 1,390 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Stifel Financial Corp reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 31.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,993 shares of the asset manager’s stock after selling 1,390 shares during the period. Stifel Financial Corp’s holdings in Affiliated Managers Group were worth $532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Affiliated Managers Group during the 3rd quarter worth about $30,000. Altshuler Shaham Ltd bought a new stake in Affiliated Managers Group in the second quarter valued at approximately $28,000. UMB Bank n.a. lifted its holdings in Affiliated Managers Group by 481.3% during the 3rd 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. Prospera Private Wealth LLC bought a new position in Affiliated Managers Group in the 3rd quarter valued at about $47,000. Finally, Brooklyn Investment Group bought a new stake in Affiliated Managers Group in the 3rd quarter valued at $49,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $189.47 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $145.36 and a 1 year high of $199.52. The business’s 50-day moving average is $187.18 and its 200-day moving average is $175.60. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last issued its 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). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the prior year, the business earned $4.08 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barrington Research dropped their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.