Cetera Trust Company N.A Purchases 165 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cetera Trust Company N.A increased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,120 shares of the asset manager’s stock after purchasing an additional 165 shares during the period. Cetera Trust Company N.A’s holdings in Affiliated Managers Group were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Affiliated Managers Group by 2,530.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 789 shares of the asset manager’s stock worth $140,000 after purchasing an additional 759 shares during the period. Schubert & Co acquired a new position in Affiliated Managers Group in the 3rd quarter worth $658,000. Blue Trust Inc. boosted its stake in Affiliated Managers Group by 87.8% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the asset manager’s stock worth $321,000 after purchasing an additional 845 shares during the period. Kapitalo Investimentos Ltda boosted its stake in shares of Affiliated Managers Group by 11.1% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,554 shares of the asset manager’s stock worth $276,000 after buying an additional 155 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth about $4,663,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock traded down $0.15 during trading hours on Tuesday, hitting $191.62. The company had a trading volume of 13,308 shares, compared to its average volume of 241,436. The firm has a market cap of $6.11 billion, a PE ratio of 10.64, a PEG ratio of 0.58 and a beta of 1.20. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $196.69. The firm has a 50-day moving average of $176.35 and a 200 day moving average of $166.72.

Affiliated Managers Group (NYSE:AMG) last announced 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. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. During the same period last year, the firm earned $4.45 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 21.98 earnings per share for the current 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 issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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 increased their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barrington Research raised their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Bank of America raised 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $210.50.

Insider Transactions at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Thomas M. Wojcik sold 4,786 shares of the 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 sale, the chief operating officer now 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 SEC, which is accessible through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is currently owned by company insiders.

About Affiliated Managers Group

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.