Corebridge Financial Inc. Sells 1,074 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Corebridge Financial Inc. cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 34,195 shares of the asset manager’s stock after selling 1,074 shares during the period. Corebridge Financial Inc.’s holdings in Affiliated Managers Group were worth $6,323,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Affiliated Managers Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock valued at $593,935,000 after purchasing an additional 31,343 shares in the last quarter. Boston Partners boosted its holdings 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 valued at $218,975,000 after buying an additional 373,696 shares during the period. Channing Capital Management LLC increased its position in shares of Affiliated Managers Group by 5.5% during the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock worth $95,156,000 after acquiring an additional 26,654 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Affiliated Managers Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after acquiring an additional 2,264 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Affiliated Managers Group by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 192,524 shares of the asset manager’s stock valued at $35,602,000 after acquiring an additional 7,377 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMG shares. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $191.00 in a research note on Monday, January 6th. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Barrington Research upped their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.40.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $167.44 on Friday. 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 has a 50-day moving average of $172.65 and a 200-day moving average of $180.19. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.57 and a beta of 1.18. Affiliated Managers Group, Inc. has a fifty-two week low of $147.13 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

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.