Affiliated Managers Group (NYSE:AMG) Shares Gap Down – Time to Sell?

Affiliated Managers Group, Inc. (NYSE:AMG) gapped down before the market opened on Monday . The stock had previously closed at $193.81, but opened at $184.05. Affiliated Managers Group shares last traded at $177.25, with a volume of 42,580 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on 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 cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Bank of America lifted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Barrington Research restated an “outperform” rating and set a $210.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 30th. Finally, TD Cowen increased their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

Affiliated Managers Group Stock Performance

The company has a 50-day moving average of $180.27 and a 200-day moving average of $168.54. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.62 and a beta of 1.18.

Insider Transactions at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,408 shares of company stock valued at $3,865,068 over the last three months. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affiliated Managers Group

A number of large investors have recently modified their holdings of AMG. Ariel Investments LLC raised its holdings in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares during the period. Victory Capital Management Inc. raised its stake in shares of Affiliated Managers Group by 150.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after acquiring an additional 59,659 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Affiliated Managers Group by 36.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after acquiring an additional 47,239 shares in the last quarter. Algert Global LLC increased its holdings in Affiliated Managers Group by 74.8% in the 2nd quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after purchasing an additional 38,206 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Affiliated Managers Group by 59.1% in the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock worth $14,092,000 after buying an additional 33,500 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.