Kendall Capital Management Has $646,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Kendall Capital Management grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 4,135 shares of the asset manager’s stock after acquiring an additional 100 shares during the period. Kendall Capital Management’s holdings in Affiliated Managers Group were worth $646,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Denali Advisors LLC increased its stake in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $47,000. Quadrant Capital Group LLC increased its position in shares of Affiliated Managers Group by 45.6% in the 4th 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 in the last quarter. Blue Trust Inc. increased its position in shares of Affiliated Managers Group by 107.8% in the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after buying an additional 499 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Affiliated Managers Group by 333.0% during the fourth quarter. Parallel Advisors LLC now owns 1,195 shares of the asset manager’s stock worth $181,000 after acquiring an additional 919 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Down 0.1 %

Shares of AMG opened at $175.76 on Thursday. The company has a 50 day moving average of $170.31 and a 200-day moving average of $163.30. The stock has a market capitalization of $5.60 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same period in the previous year, the business earned $4.45 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given 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 yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMG shares. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barrington Research increased their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. 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 report on Tuesday, July 30th. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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 MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $199.80.

Insider Buying and Selling at Affiliated Managers Group

In other news, 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 value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. The disclosure for this sale can be found here. Insiders sold a total of 22,408 shares of company stock worth $3,865,068 over the last ninety days. 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.