Guinness Asset Management LTD Has $525,000 Stock Position in Affiliated Managers Group, Inc. $AMG

Guinness Asset Management LTD lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.1% during the first quarter, Holdings Channel.com reports. The fund owned 3,122 shares of the asset manager’s stock after selling 204 shares during the period. Guinness Asset Management LTD’s holdings in Affiliated Managers Group were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Redwood Investment Management LLC increased its position in shares of Affiliated Managers Group by 0.9% in the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock valued at $1,306,000 after acquiring an additional 69 shares during the last quarter. Cetera Investment Advisers increased its position in Affiliated Managers Group by 2.5% during the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock worth $536,000 after buying an additional 70 shares during the last quarter. Parallel Advisors LLC increased its position in Affiliated Managers Group by 6.8% during the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock worth $197,000 after buying an additional 75 shares during the last quarter. Versant Capital Management Inc increased its position in Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after buying an additional 75 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Affiliated Managers Group by 11.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock worth $124,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. Bank of America raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $242.40.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.

Affiliated Managers Group Trading Up 1.6%

Affiliated Managers Group stock opened at $236.19 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $237.18. The stock’s 50 day moving average is $216.41 and its 200-day moving average is $187.21. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.61 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. During the same quarter in the prior year, the business earned $4.67 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.29%.

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.