Assenagon Asset Management S.A. Raises Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Assenagon Asset Management S.A. raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 43.2% during the third quarter, HoldingsChannel reports. The firm owned 79,951 shares of the asset manager’s stock after buying an additional 24,119 shares during the period. Assenagon Asset Management S.A.’s holdings in Affiliated Managers Group were worth $14,215,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc raised its stake in Affiliated Managers Group by 0.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after acquiring an additional 60 shares during the last quarter. Blair William & Co. IL grew its position in Affiliated Managers Group by 0.5% in the 1st quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock valued at $2,164,000 after buying an additional 69 shares during the last quarter. Kendall Capital Management lifted its stake in shares of Affiliated Managers Group by 2.5% in the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock worth $646,000 after acquiring an additional 100 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of 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 valued at $546,000 after acquiring an additional 150 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Affiliated Managers Group by 1.9% during 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 during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMG. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barrington Research lifted their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Bank of America increased their price objective on 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 boosted their target price 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. Finally, StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.50.

Insiders Place Their Bets

In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction on 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 sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. The trade was 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 at the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated 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 owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $191.35 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $121.56 and a fifty-two week high of $196.69. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20. The stock’s fifty day moving average is $178.01 and its two-hundred day moving average is $167.37.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.45 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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