Geode Capital Management LLC Decreases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Geode Capital Management LLC reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,502 shares of the asset manager’s stock after selling 4,539 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Affiliated Managers Group worth $96,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Affiliated Managers Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock worth $593,935,000 after acquiring an additional 31,343 shares in the last quarter. Boston Partners increased its stake in shares of Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after purchasing an additional 373,696 shares in the last quarter. Channing Capital Management LLC increased its stake in shares of Affiliated Managers Group by 5.5% in the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock worth $95,156,000 after purchasing an additional 26,654 shares in the last quarter. Norges Bank bought a new stake in shares of Affiliated Managers Group during the 4th quarter valued at $68,683,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Affiliated Managers Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after buying an additional 2,264 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the topic of several research analyst reports. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America lowered their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, TD Cowen dropped their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.40.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $153.83 on Friday. The company has a market capitalization of $4.50 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.57 and a beta of 1.09. The company’s 50-day simple moving average is $165.92 and its two-hundred day simple moving average is $178.92. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one 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.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio 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.