Wallace Capital Management Inc. Sells 446 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Wallace Capital Management Inc. reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,860 shares of the asset manager’s stock after selling 446 shares during the quarter. Affiliated Managers Group accounts for about 1.4% of Wallace Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Wallace Capital Management Inc.’s holdings in Affiliated Managers Group were worth $10,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ensign Peak Advisors Inc lifted its position in shares of Affiliated Managers Group by 0.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after buying an additional 60 shares during the last quarter. Blair William & Co. IL raised its position in Affiliated Managers Group by 0.5% in the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock valued at $2,164,000 after purchasing an additional 69 shares during the last quarter. Kendall Capital Management raised its position in Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Affiliated Managers Group by 1.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,854 shares of the asset manager’s stock valued at $1,189,000 after purchasing an additional 135 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in Affiliated Managers Group by 4.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,261 shares of the asset manager’s stock valued at $546,000 after purchasing an additional 150 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

NYSE AMG opened at $176.28 on Monday. The business has a 50 day simple moving average of $171.84 and a 200 day simple moving average of $164.31. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $189.81. The stock has a market capitalization of $5.62 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.56 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, topping 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 business had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter last year, the firm posted $4.45 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Equities analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors 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 yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Insider Buying and Selling

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMG. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America increased their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Barrington Research increased their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. TD Cowen increased their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.80.

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.