Citigroup Inc. lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 17.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,155 shares of the asset manager’s stock after selling 7,950 shares during the quarter. Citigroup Inc. owned 0.07% of Affiliated Managers Group worth $6,163,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMG. Waldron LP purchased a new stake in shares of Affiliated Managers Group in the 1st quarter valued at $236,000. Profund Advisors LLC raised its holdings in shares of Affiliated Managers Group by 5.6% in the 1st quarter. Profund Advisors LLC now owns 1,920 shares of the asset manager’s stock valued at $315,000 after buying an additional 102 shares during the period. Strs Ohio raised its holdings in shares of Affiliated Managers Group by 168.7% in the 1st quarter. Strs Ohio now owns 2,182 shares of the asset manager’s stock valued at $357,000 after buying an additional 1,370 shares during the period. Empire Life Investments Inc. purchased a new stake in shares of Affiliated Managers Group in the 1st quarter valued at $4,496,000. Finally, Comerica Bank raised its holdings in shares of Affiliated Managers Group by 2.6% in the 1st quarter. Comerica Bank now owns 13,638 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 349 shares during the period. Institutional investors own 96.16% of the company’s stock.

Several research firms recently issued reports on AMG. Jefferies Group LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a report on Friday, August 18th. BidaskClub downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Citigroup Inc. downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Monday, June 5th. ValuEngine downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $195.50.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/09/23/affiliated-managers-group-inc-amg-shares-sold-by-citigroup-inc.html.

Affiliated Managers Group, Inc. (NYSE AMG) opened at 184.97 on Friday. The stock’s 50 day moving average price is $177.13 and its 200 day moving average price is $166.93. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08. The firm has a market capitalization of $10.35 billion, a PE ratio of 20.49 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. During the same period in the previous year, the company earned $3.07 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect 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. Stockholders of record on Thursday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Tuesday, August 8th. Affiliated Managers Group’s payout ratio is 8.87%.

Affiliated Managers Group Company Profile

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)

Receive News & Ratings for Affiliated Managers Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.