United Capital Financial Advisers LLC raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,768 shares of the asset manager’s stock after buying an additional 175 shares during the period. United Capital Financial Advisers LLC’s holdings in Affiliated Managers Group were worth $2,585,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at $104,000. Financial Architects Inc raised its stake in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock valued at $134,000 after buying an additional 801 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Affiliated Managers Group by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,096 shares of the asset manager’s stock valued at $180,000 after buying an additional 33 shares during the last quarter. CI Global Investments Inc. purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at $181,000. Finally, Tredje AP fonden raised its stake in shares of Affiliated Managers Group by 38.6% in the fourth quarter. Tredje AP fonden now owns 1,331 shares of the asset manager’s stock valued at $193,000 after buying an additional 371 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors.
Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at 176.99 on Wednesday. The company has a market cap of $10.02 billion, a P/E ratio of 20.13 and a beta of 1.63. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $177.54. The stock’s 50 day moving average price is $165.24 and its 200-day moving average price is $160.04.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 EPS for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.03. Affiliated Managers Group had a net margin of 22.31% and a return on equity of 17.53%. The firm had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $551.56 million. During the same quarter in the prior year, the company posted $2.94 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts expect that Affiliated Managers Group, Inc. will post $14.50 EPS for the current year.
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Several analysts recently commented on AMG shares. Citigroup Inc lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Monday, June 5th. ValuEngine lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC boosted their price target on Affiliated Managers Group from $195.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Tuesday, April 18th. Finally, BidaskClub raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Affiliated Managers Group currently has a consensus rating of “Buy” and an average price target of $189.38.
In related news, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now owns 7,301 shares in the company, valued at $1,192,253.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean M. Healey sold 56,928 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the completion of the sale, the chief executive officer now owns 206,689 shares in the company, valued at approximately $33,291,397.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,107 shares of company stock worth $11,065,554. Corporate insiders own 1.40% of the company’s stock.
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.
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