Affiliated Managers Group, Inc. $AMG Stock Position Cut by Bruni J V & Co. Co.

Bruni J V & Co. Co. trimmed its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,989 shares of the asset manager’s stock after selling 38,746 shares during the period. Affiliated Managers Group comprises approximately 6.1% of Bruni J V & Co. Co.’s holdings, making the stock its 3rd largest holding. Bruni J V & Co. Co.’s holdings in Affiliated Managers Group were worth $60,797,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMG. Procyon Advisors LLC increased its stake in shares of Affiliated Managers Group by 3.1% in the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock worth $393,000 after buying an additional 50 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after purchasing an additional 52 shares during the last quarter. Guinness Asset Management LTD increased its position in shares of Affiliated Managers Group by 2.4% in the 2nd quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock worth $629,000 after purchasing an additional 74 shares during the last quarter. Citigroup Inc. raised its stake in shares of Affiliated Managers Group by 0.8% in the 3rd quarter. Citigroup Inc. now owns 9,363 shares of the asset manager’s stock valued at $2,232,000 after purchasing an additional 77 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Affiliated Managers Group by 6.5% during the third quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock worth $318,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG opened at $287.58 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $334.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a fifty day moving average price of $305.75 and a 200 day moving average price of $264.54. The company has a market cap of $7.67 billion, a P/E ratio of 12.46, a PEG ratio of 0.48 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. During the same quarter in the previous year, the company posted $6.53 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be given a $0.01 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.17%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Jefferies Financial Group reissued a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.14.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.