MQS Management LLC Acquires Shares of 2,537 Affiliated Managers Group, Inc. $AMG

MQS Management LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,537 shares of the asset manager’s stock, valued at approximately $499,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Redwood Investment Management LLC raised its position in Affiliated Managers Group by 0.9% in the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock valued at $1,306,000 after purchasing an additional 69 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Affiliated Managers Group by 11.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock valued at $124,000 after purchasing an additional 78 shares during the period. Private Trust Co. NA raised its position in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares during the period. M&T Bank Corp raised its position in Affiliated Managers Group by 4.8% in the first quarter. M&T Bank Corp now owns 1,956 shares of the asset manager’s stock valued at $329,000 after purchasing an additional 90 shares during the period. Finally, UMB Bank n.a. raised its position in Affiliated Managers Group by 32.6% in the second quarter. UMB Bank n.a. now owns 395 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 97 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $240.58 on Friday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $250.15. The stock has a 50-day simple moving average of $234.09 and a 200 day simple moving average of $203.56.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.13. The business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $4.67 earnings per share. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of several research reports. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their target price for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.60.

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.