Hancock Whitney Corp Has $311,000 Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Hancock Whitney Corp reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 45.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,991 shares of the asset manager’s stock after selling 1,661 shares during the period. Hancock Whitney Corp’s holdings in Affiliated Managers Group were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Denali Advisors LLC grew its position in shares of Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Affiliated Managers Group during the 2nd quarter worth $47,000. Blue Trust Inc. raised its holdings in Affiliated Managers Group by 107.8% in the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after acquiring an additional 499 shares in the last quarter. EMC Capital Management lifted its position in shares of Affiliated Managers Group by 27.0% during the 1st quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 253 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Affiliated Managers Group by 333.0% in the fourth quarter. Parallel Advisors LLC now owns 1,195 shares of the asset manager’s stock worth $181,000 after purchasing an additional 919 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Barrington Research increased their price target 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. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $178.05 on Tuesday. The firm’s fifty day moving average price is $171.35 and its two-hundred day moving average price is $163.82. The stock has a market cap of $5.67 billion, a PE ratio of 9.88, a PEG ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its 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 business 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%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.45 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.01 dividend. 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%.

Insider Buying and Selling

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction on 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 sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly 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 ninety days. Company 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.