Foundry Partners LLC Makes New Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Foundry Partners LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,671 shares of the asset manager’s stock, valued at approximately $574,000.

Several other large investors have also made changes to their positions in AMG. Victory Capital Management Inc. boosted its position in Affiliated Managers Group by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 38,844 shares of the asset manager’s stock valued at $5,882,000 after buying an additional 703 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Affiliated Managers Group by 6.3% in the 4th quarter. Natixis Advisors L.P. now owns 12,018 shares of the asset manager’s stock worth $1,819,000 after acquiring an additional 711 shares in the last quarter. M&T Bank Corp grew its position in Affiliated Managers Group by 3.5% during the 4th quarter. M&T Bank Corp now owns 2,184 shares of the asset manager’s stock worth $331,000 after acquiring an additional 74 shares during the last quarter. National Bank of Canada FI increased its holdings in Affiliated Managers Group by 406.9% during the 4th quarter. National Bank of Canada FI now owns 2,352 shares of the asset manager’s stock valued at $352,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Affiliated Managers Group by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,384 shares of the asset manager’s stock valued at $53,055,000 after purchasing an additional 3,357 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 2.5 %

Shares of NYSE AMG opened at $163.90 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81. The firm’s 50-day moving average is $168.50 and its 200-day moving average is $162.67. The firm has a market capitalization of $5.22 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.55 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm 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, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 21.94 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.01 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Insider Activity at Affiliated Managers Group

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 transaction of $1,547,820.00. Following the transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barrington Research upped their target price 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. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, TD Cowen upped their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group 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.