Quarry LP Acquires Shares of 927 Affiliated Managers Group, Inc. (NYSE:AMG)

Quarry LP acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 927 shares of the asset manager’s stock, valued at approximately $145,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its holdings in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management lifted its holdings in Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates lifted its holdings in Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after purchasing an additional 20,514 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Affiliated Managers Group by 36.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after purchasing an additional 47,239 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barrington Research raised their target price 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. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen raised their target price 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. Deutsche Bank Aktiengesellschaft raised their target price 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. Finally, Bank of America raised their target price 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Trading Up 0.8 %

Shares of NYSE:AMG opened at $177.73 on Tuesday. The business has a 50-day moving average price of $171.97 and a 200 day moving average price of $164.43. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.56 and a beta of 1.20. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data 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 the consensus estimate 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 quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $4.45 EPS. As a group, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given 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 was Thursday, August 8th. Affiliated Managers Group’s payout ratio is 0.22%.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total value 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 approximately $14,575,342.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated 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 completion of the transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 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. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is currently owned by insiders.

About Affiliated Managers Group

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.