Ritholtz Wealth Management Buys New Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Ritholtz Wealth Management purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,374 shares of the asset manager’s stock, valued at approximately $244,000.

A number of other large investors have also modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $28,000. UMB Bank n.a. increased its stake in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. Denali Advisors LLC raised its holdings in shares of Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at $50,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.7 %

Affiliated Managers Group stock opened at $196.21 on Friday. The firm has a market cap of $6.25 billion, a PE ratio of 10.89, a P/E/G 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 $196.28. The stock’s 50 day simple moving average is $175.22 and its two-hundred day simple moving average is $166.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 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 company had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same quarter last year, the business earned $4.45 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.98 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s 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 transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMG has been the subject of a number of research analyst reports. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped 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 raised their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen upped their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Barrington Research raised their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

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.