Oak Thistle LLC Reduces Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Oak Thistle LLC trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,741 shares of the asset manager’s stock after selling 375 shares during the period. Oak Thistle LLC’s holdings in Affiliated Managers Group were worth $507,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Affiliated Managers Group during the third quarter worth $30,000. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group in the second quarter valued at $28,000. UMB Bank n.a. increased its position in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth $46,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Affiliated Managers Group in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $185.54 on Friday. The company has a market cap of $5.61 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The company has a 50-day simple moving average of $185.32 and a 200-day simple moving average of $178.59. Affiliated Managers Group, Inc. has a 12 month low of $146.16 and a 12 month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share 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 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 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 20.9 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on AMG. Deutsche Bank Aktiengesellschaft raised their target price 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. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.