Sepio Capital LP Trims Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Sepio Capital LP trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.4% during the second quarter, Holdings Channel.com reports. The fund owned 7,102 shares of the asset manager’s stock after selling 171 shares during the period. Sepio Capital LP’s holdings in Affiliated Managers Group were worth $1,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC raised its stake in shares of Affiliated Managers Group by 35.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 33,109 shares of the asset manager’s stock valued at $5,173,000 after acquiring an additional 8,660 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $311,000. Mackenzie Financial Corp increased its stake in Affiliated Managers Group by 22.9% during the 2nd quarter. Mackenzie Financial Corp now owns 5,679 shares of the asset manager’s stock worth $887,000 after buying an additional 1,059 shares during the period. Millennium Management LLC increased its stake in Affiliated Managers Group by 7.9% during the 2nd quarter. Millennium Management LLC now owns 104,297 shares of the asset manager’s stock worth $16,294,000 after buying an additional 7,613 shares during the period. Finally, Ariel Investments LLC increased its stake in Affiliated Managers Group by 8.7% during the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after buying an additional 115,808 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMG. TD Cowen upped their target price 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. Bank of America upped their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. 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 note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased 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 given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Trading Down 0.3 %

Shares of NYSE:AMG opened at $176.28 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $189.81. The company’s 50 day moving average is $171.84 and its two-hundred day moving average is $164.29. The company has a market cap of $5.62 billion, a PE ratio of 9.78, a P/E/G ratio of 0.56 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last issued its 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 business 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 business posted $4.45 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.04 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Activity

In other news, 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 transaction, the chief executive officer now 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 at this link. In other news, 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 transaction, the chief executive officer now 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 at this link. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction on 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 transaction, the insider now 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. In the last quarter, insiders sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

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.