Reinhart Partners LLC. Reduces Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Reinhart Partners LLC. trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 8.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,574 shares of the asset manager’s stock after selling 8,376 shares during the period. Reinhart Partners LLC.’s holdings in Affiliated Managers Group were worth $15,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AMG. Lazard Asset Management LLC lifted its stake in Affiliated Managers Group by 87.1% during the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $1,293,000. Susquehanna Fundamental Investments LLC acquired a new stake in Affiliated Managers Group during the 1st quarter worth $4,094,000. LSV Asset Management raised its stake in Affiliated Managers Group by 10.9% during the 1st quarter. LSV Asset Management now owns 238,504 shares of the asset manager’s stock worth $39,942,000 after acquiring an additional 23,454 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Affiliated Managers Group by 40.8% in the first quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock valued at $8,069,000 after acquiring an additional 13,968 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Bank of America raised their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen upped their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Barrington Research raised their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.50.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $188.10 on Friday. The stock has a fifty day moving average price of $172.73 and a 200 day moving average price of $165.58. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $189.83. The company has a market cap of $5.99 billion, a PE ratio of 10.44, a P/E/G ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, topping the consensus estimate of $4.60 by $0.07. The company had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $4.45 EPS. Analysts anticipate that Affiliated Managers Group, Inc. will post 21.98 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.22%.

Insider Activity at Affiliated Managers Group

In other 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 transaction of $826,590.06. Following the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction 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 approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their position. 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 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

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.