JPMorgan Chase & Co. Trims Holdings in Affiliated Managers Group, Inc. (AMG)

JPMorgan Chase & Co. cut its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 59.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 510,283 shares of the asset manager’s stock after selling 747,905 shares during the period. JPMorgan Chase & Co. owned about 0.91% of Affiliated Managers Group worth $84,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMG. BlackRock Inc. grew its stake in Affiliated Managers Group by 3,178.4% during the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock valued at $561,556,000 after acquiring an additional 3,320,906 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Affiliated Managers Group by 15,766.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,042,596 shares of the asset manager’s stock worth $6,286,000 after buying an additional 1,036,025 shares in the last quarter. RidgeWorth Capital Management LLC purchased a new position in shares of Affiliated Managers Group in the 1st quarter worth $40,387,000. Vanguard Group Inc. grew its stake in shares of Affiliated Managers Group by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 5,303,083 shares of the asset manager’s stock worth $869,387,000 after buying an additional 243,426 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Affiliated Managers Group by 8.5% in the 1st quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock worth $423,466,000 after buying an additional 202,802 shares in the last quarter. 96.17% of the stock is owned by hedge funds and other institutional investors.

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Affiliated Managers Group, Inc. (AMG) traded up 0.73% during trading on Friday, hitting $179.87. 385,790 shares of the company traded hands. The company’s 50-day moving average is $177.11 and its 200 day moving average is $166.75. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 19.93 and a beta of 1.66. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.09. The business had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.07 EPS. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 8.87%.

AMG has been the subject of several analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Tuesday, July 4th. ValuEngine lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Monday, June 5th. Finally, BidaskClub raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $195.50.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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