Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,983 shares of the asset manager’s stock after acquiring an additional 417 shares during the period. Wedge Capital Management L L P NC’s holdings in Affiliated Managers Group were worth $1,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMG. Ariel Investments LLC lifted its holdings in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after acquiring an additional 115,808 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in 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 valued at $15,530,000 after acquiring an additional 59,659 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in 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 last quarter. Algert Global LLC lifted its stake in Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock worth $13,944,000 after purchasing an additional 38,206 shares in the last quarter. Finally, Renaissance Technologies LLC lifted 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 worth $14,092,000 after purchasing an additional 33,500 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMG has been the topic of a number of research reports. TD Cowen upped their price target on 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 price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barrington Research upped their price target on 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, StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average price target of $210.50.

Insider Activity at Affiliated Managers Group

In related news, insider Rizwan M. Jamal sold 8,622 shares of the 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 of the company’s stock, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Rizwan M. Jamal sold 8,622 shares of the 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 of the company’s stock, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the 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 directly owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 over the last quarter. 1.90% of the stock is owned by insiders.

Affiliated Managers Group Trading Up 1.0 %

Shares of NYSE AMG opened at $192.86 on Thursday. The stock has a market cap of $6.15 billion, a P/E ratio of 10.70, a PEG ratio of 0.58 and a beta of 1.20. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $194.27. The business’s fifty day simple moving average is $174.57 and its 200-day simple moving average is $166.10.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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. The business had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $4.45 earnings per share. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 21.98 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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 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.