Affiliated Managers Group, Inc. (NYSE:AMG) is Kiltearn Partners LLP’s Largest Position

Kiltearn Partners LLP lessened its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 464,514 shares of the asset manager’s stock after selling 89,500 shares during the period. Affiliated Managers Group accounts for 11.2% of Kiltearn Partners LLP’s investment portfolio, making the stock its largest position. Kiltearn Partners LLP owned about 1.56% of Affiliated Managers Group worth $82,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ariel Investments LLC grew its stake in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management raised its stake in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates raised its stake in shares of Affiliated Managers Group by 9.6% during the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after purchasing an additional 20,514 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock worth $32,919,000 after purchasing an additional 11,565 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $189.25 on Wednesday. The company has a 50 day simple moving average of $185.08 and a two-hundred day simple moving average of $171.46. The firm has a market cap of $5.72 billion, a PE ratio of 12.35, a PEG ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a 1 year low of $131.34 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter last year, the firm posted $4.08 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Affiliated Managers Group 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.