Oppenheimer Asset Management Inc. Has $3.40 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Oppenheimer Asset Management Inc. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,729 shares of the asset manager’s stock after selling 2,010 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.07% of Affiliated Managers Group worth $3,395,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Denali Advisors LLC boosted its stake in Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after buying an additional 206 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group in the second quarter valued at $47,000. Quadrant Capital Group LLC raised its holdings in shares of Affiliated Managers Group by 45.6% in the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after buying an additional 185 shares during the last quarter. Blue Trust Inc. lifted its position in Affiliated Managers Group by 107.8% during the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock worth $161,000 after buying an additional 499 shares in the last quarter. Finally, EMC Capital Management lifted its position in Affiliated Managers Group by 27.0% during the 1st quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock worth $199,000 after buying an additional 253 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s 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 transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s 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 transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of the 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 directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America upped their price target 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 stock a “buy” rating in a research report on Tuesday, July 30th. Barrington Research upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped 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 report on Thursday, August 15th. 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 data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus target price of $199.80.

Affiliated Managers Group Trading Up 2.7 %

Affiliated Managers Group stock opened at $173.90 on Tuesday. The company has a market cap of $5.54 billion, a PE ratio of 9.65, a PEG ratio of 0.52 and a beta of 1.20. The company’s 50-day moving average is $169.51 and its two-hundred day moving average is $163.04. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same period in the prior year, the business posted $4.45 EPS. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.04 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date 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 currently 0.22%.

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.