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

Mutual of America Capital Management LLC decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,955 shares of the asset manager’s stock after selling 1,876 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Affiliated Managers Group worth $3,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Affiliated Managers Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,791,126 shares of the asset manager’s stock worth $424,037,000 after buying an additional 43,391 shares during the period. Morgan Stanley boosted its position in shares of Affiliated Managers Group by 907.4% in the fourth quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after buying an additional 2,497,690 shares during the period. State Street Corp boosted its position in shares of Affiliated Managers Group by 4.2% in the first quarter. State Street Corp now owns 1,352,135 shares of the asset manager’s stock worth $190,583,000 after buying an additional 54,161 shares during the period. Ariel Investments LLC boosted its position in shares of Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after buying an additional 120,977 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Affiliated Managers Group by 4,914.7% in the first quarter. Envestnet Asset Management Inc. now owns 755,310 shares of the asset manager’s stock worth $1,960,000 after buying an additional 740,248 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the subject of several analyst reports. Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. TD Cowen started coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price target on the stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $158.91 on Thursday. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $169.65. The business’s 50-day simple moving average is $160.69 and its 200 day simple moving average is $146.82. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business had revenue of $502.70 million for the quarter, compared to analysts’ expectations of $524.98 million. During the same quarter in the previous year, the firm posted $7.28 earnings per share. The company’s revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s payout ratio is currently 0.23%.

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.