Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 22.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,820 shares of the asset manager’s stock after selling 531 shares during the period. Procyon Advisors LLC’s holdings in Affiliated Managers Group were worth $337,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Affiliated Managers Group in the second quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter worth about $30,000. UMB Bank n.a. lifted its stake in shares of Affiliated Managers Group by 481.3% in 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Affiliated Managers Group during the 3rd quarter worth approximately $46,000. Finally, Prospera Private Wealth LLC purchased a new position in Affiliated Managers Group in the third quarter valued at approximately $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $187.21 on Monday. The company’s fifty day moving average price is $185.37 and its two-hundred day moving average price is $179.12. The firm has a market capitalization of $5.66 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.60 and a beta of 1.15. Affiliated Managers Group, Inc. has a 12 month low of $147.13 and a 12 month high of $199.52.

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). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same quarter last year, the firm posted $4.08 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 20.9 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.01 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMG shares. Barrington Research decreased their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $195.40.

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.