MQS Management LLC Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

MQS Management LLC acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,092 shares of the asset manager’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ariel Investments LLC grew its position in Affiliated Managers Group by 6.8% in the first quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager’s stock worth $222,234,000 after acquiring an additional 84,313 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after purchasing an additional 30,059 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Affiliated Managers Group by 22.2% in the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock worth $77,521,000 after purchasing an additional 92,913 shares in the last quarter. Norges Bank acquired a new position in Affiliated Managers Group during the fourth quarter worth $66,223,000. Finally, LSV Asset Management raised its holdings in Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 owns 84,392 shares in the company, valued at approximately $14,575,342.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Price Performance

NYSE AMG opened at $178.24 on Friday. The company’s fifty day moving average is $171.16 and its two-hundred day moving average is $163.63. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $189.81.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter in the prior year, the firm posted $4.45 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Wall Street Analyst Weigh In

AMG has been the topic of a number of analyst reports. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. TD Cowen boosted 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. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” 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 report on Thursday, August 15th. Finally, Barrington Research raised their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.80.

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.