Xponance Inc. Sells 884 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Xponance Inc. reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 19.0% in the second quarter, Holdings Channel.com reports. The fund owned 3,768 shares of the asset manager’s stock after selling 884 shares during the period. Xponance Inc.’s holdings in Affiliated Managers Group were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Ariel Investments LLC boosted its stake in Affiliated Managers Group by 6.8% in the 1st quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager’s stock worth $222,234,000 after purchasing an additional 84,313 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after buying an additional 59,659 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Affiliated Managers Group by 36.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after acquiring an additional 47,239 shares during the period. Renaissance Technologies LLC grew its stake in Affiliated Managers Group by 59.1% during the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock valued at $14,092,000 after acquiring an additional 33,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after acquiring an additional 30,059 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America lifted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen lifted their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Barrington Research upped their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.80.

Insider Buying and Selling

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

Affiliated Managers Group Stock Down 0.3 %

Shares of AMG stock opened at $176.28 on Monday. The business has a 50-day moving average price of $171.84 and a two-hundred day moving average price of $164.31. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $189.81. The firm has a market cap of $5.62 billion, a P/E ratio of 9.78, a price-to-earnings-growth 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. During the same quarter in the previous year, the company posted $4.45 EPS. Affiliated Managers Group’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 22.04 EPS for the current fiscal 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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

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.