Reinhart Partners LLC. Trims Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Reinhart Partners LLC. trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 16.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,834 shares of the asset manager’s stock after selling 14,740 shares during the quarter. Reinhart Partners LLC. owned about 0.25% of Affiliated Managers Group worth $13,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $30,000. UMB Bank n.a. increased its holdings in Affiliated Managers Group by 481.3% in 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. Wilmington Savings Fund Society FSB purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $46,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Affiliated Managers Group Stock Up 0.6 %

NYSE:AMG traded up $1.14 during mid-day trading on Monday, reaching $178.01. The company’s stock had a trading volume of 140,301 shares, compared to its average volume of 204,143. Affiliated Managers Group, Inc. has a 1 year low of $145.36 and a 1 year high of $199.52. The stock has a fifty day moving average of $185.16 and a 200-day moving average of $178.15. The firm has a market capitalization of $5.38 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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 company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.08 earnings per share. On average, analysts expect that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s payout ratio 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.