Affiliated Managers Group, Inc. (NYSE:AMG) Stock Holdings Lessened by Custom Index Systems LLC

Custom Index Systems LLC lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,889 shares of the asset manager’s stock after selling 148 shares during the period. Custom Index Systems LLC’s holdings in Affiliated Managers Group were worth $451,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMG. Norges Bank bought a new position in shares of Affiliated Managers Group in the fourth quarter valued at $66,223,000. Allianz Asset Management GmbH increased its holdings in shares of Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after buying an additional 92,913 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of Affiliated Managers Group by 6.8% in the first quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager’s stock valued at $222,234,000 after buying an additional 84,313 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after buying an additional 59,659 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Affiliated Managers Group by 36.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after buying an additional 47,239 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMG. Barrington Research upped their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen boosted their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Bank of America boosted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.80.

Insider Activity

In other news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock worth $3,865,068 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Affiliated Managers Group Stock Down 2.5 %

Affiliated Managers Group stock opened at $163.90 on Friday. The company’s fifty day simple moving average is $168.50 and its 200-day simple moving average is $162.67. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $189.81. The stock has a market cap of $5.22 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.55 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. During the same period in the previous year, the company posted $4.45 EPS. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 21.94 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 Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Affiliated Managers Group Company 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.