Cornerstone Investment Partners LLC Sells 87 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cornerstone Investment Partners LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,111 shares of the asset manager’s stock after selling 87 shares during the period. Cornerstone Investment Partners LLC’s holdings in Affiliated Managers Group were worth $575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Affiliated Managers Group by 2,530.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 789 shares of the asset manager’s stock valued at $140,000 after buying an additional 759 shares during the period. US Bancorp DE raised its stake in Affiliated Managers Group by 4.7% in the third quarter. US Bancorp DE now owns 3,585 shares of the asset manager’s stock valued at $637,000 after buying an additional 160 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Affiliated Managers Group by 94.3% in the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock valued at $1,884,000 after purchasing an additional 5,142 shares during the last quarter. Forte Capital LLC ADV grew its position in shares of Affiliated Managers Group by 21.4% in the third quarter. Forte Capital LLC ADV now owns 2,825 shares of the asset manager’s stock valued at $502,000 after purchasing an additional 498 shares during the last quarter. Finally, Seascape Capital Management grew its position in shares of Affiliated Managers Group by 0.9% in the third quarter. Seascape Capital Management now owns 16,152 shares of the asset manager’s stock valued at $2,872,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 2.2 %

Shares of NYSE:AMG opened at $167.01 on Tuesday. The company has a market capitalization of $4.89 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.57 and a beta of 1.15. Affiliated Managers Group, Inc. has a 1 year low of $147.13 and a 1 year high of $199.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The business’s 50 day simple moving average is $180.26 and its 200 day simple moving average is $181.12.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Tuesday, February 18th. Affiliated Managers Group’s payout ratio is presently 0.26%.

Wall Street Analyst Weigh In

AMG has been the topic of several research reports. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research upped their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus price target of $198.40.

Affiliated Managers Group Company 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.