Partnership Wealth Management LLC Cuts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Partnership Wealth Management LLC cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 56.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 467 shares of the asset manager’s stock after selling 603 shares during the quarter. Partnership Wealth Management LLC’s holdings in Affiliated Managers Group were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the 2nd quarter worth $28,000. Denali Advisors LLC grew its stake in shares of Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after buying an additional 206 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group during the second quarter valued at about $47,000. Goodman Advisory Group LLC purchased a new position in shares of Affiliated Managers Group in the second quarter worth about $50,000. Finally, GAMMA Investing LLC lifted its position in Affiliated Managers Group by 103.6% in the third quarter. GAMMA Investing LLC now owns 794 shares of the asset manager’s stock valued at $141,000 after purchasing an additional 404 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective 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. TD Cowen lifted their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Barrington Research increased their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.80.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $177.70 on Wednesday. The company has a market cap of $5.66 billion, a P/E ratio of 9.86, a PEG ratio of 0.56 and a beta of 1.20. The firm has a 50-day simple moving average of $172.22 and a two-hundred day simple moving average of $165.12. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $4.45 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.04 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Transactions at Affiliated Managers Group

In related 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 completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,408 shares of company stock worth $3,865,068. 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.