Louisiana State Employees Retirement System Sells 700 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Louisiana State Employees Retirement System lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.8% during the third quarter, Holdings Channel.com reports. The firm owned 8,300 shares of the asset manager’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Affiliated Managers Group were worth $1,476,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc boosted its position in Affiliated Managers Group by 0.6% during the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after purchasing an additional 60 shares in the last quarter. Blair William & Co. IL boosted its holdings 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 worth $2,164,000 after acquiring an additional 69 shares in the last quarter. Kendall Capital Management boosted its holdings 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 worth $646,000 after acquiring an additional 100 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings 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 worth $546,000 after acquiring an additional 150 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Affiliated Managers Group by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock worth $1,269,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 1.3 %

Shares of NYSE:AMG opened at $193.78 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $121.56 and a 52-week high of $199.52. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.58 and a beta of 1.20. The business has a 50-day moving average price of $179.45 and a 200-day moving average price of $168.00.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.07. The company had revenue of $500.30 million during 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%. Affiliated Managers Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $4.45 earnings per share. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group 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 in the company, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. 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 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

Several equities research analysts have weighed in on the company. TD Cowen raised their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barrington Research reissued an “outperform” rating and issued a $210.00 price target on shares of Affiliated Managers Group in a report on Wednesday. Bank of America raised their price objective 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. Finally, StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.50.

Affiliated Managers Group 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.