Affiliated Managers Group, Inc. (NYSE:AMG) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,245 shares of the asset manager’s stock after selling 1,900 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Affiliated Managers Group worth $2,850,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ariel Investments LLC boosted its stake in Affiliated Managers Group by 6.8% during the 1st quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager’s stock valued at $222,234,000 after acquiring an additional 84,313 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Affiliated Managers Group by 3.8% during 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 during the period. Allianz Asset Management GmbH raised its holdings in shares of Affiliated Managers Group by 22.2% during 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 during the period. Norges Bank acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth $66,223,000. Finally, LSV Asset Management raised its holdings in shares of Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Bank of America increased their target price 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. TD Cowen increased their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Barrington Research increased their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a 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 company. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $199.80.

Affiliated Managers Group Stock Up 0.1 %

AMG stock opened at $178.16 on Wednesday. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $189.81. The firm’s 50-day simple moving average is $171.47 and its 200 day simple moving average is $163.95. The stock has a market cap of $5.68 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.52 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last released its 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. The firm had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $4.45 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 22.04 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid 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 payout ratio is 0.22%.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm’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 transaction, the insider now owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group 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 transaction, the insider now owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock valued at $3,865,068. Company insiders own 1.90% of the company’s stock.

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.