Swiss National Bank Sells 1,700 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Swiss National Bank decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,200 shares of the asset manager’s stock after selling 1,700 shares during the quarter. Swiss National Bank owned about 0.21% of Affiliated Managers Group worth $11,059,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its stake in shares of Affiliated Managers Group by 0.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after buying an additional 60 shares in the last quarter. Covestor Ltd grew its position in Affiliated Managers Group by 21.4% during the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after acquiring an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Affiliated Managers Group by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 90 shares in the last quarter. Kendall Capital Management raised its position in Affiliated Managers Group by 2.5% in the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after purchasing an additional 100 shares during the last quarter. Finally, KBC Group NV boosted its stake in Affiliated Managers Group by 17.4% in the third quarter. KBC Group NV now owns 980 shares of the asset manager’s stock worth $174,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $187.60 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $131.34 and a 52 week high of $199.52. The stock’s 50 day moving average price is $184.78 and its two-hundred day moving average price is $171.13. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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). The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.08 EPS. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Analysts Set New Price Targets

Several research firms have weighed in on AMG. Barrington Research lowered their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America upped their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $196.50.

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.