Affiliated Managers Group, Inc. $AMG Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,232 shares of the asset manager’s stock after selling 862 shares during the quarter. Retirement Systems of Alabama owned approximately 0.34% of Affiliated Managers Group worth $19,132,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMG. Rossby Financial LCC acquired a new position in Affiliated Managers Group in the first quarter worth $56,000. Private Trust Co. NA boosted its holdings 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 worth $51,000 after purchasing an additional 83 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Affiliated Managers Group by 10.1% in the first quarter. OneDigital Investment Advisors LLC now owns 5,508 shares of the asset manager’s stock worth $926,000 after purchasing an additional 506 shares during the period. Seascape Capital Management lifted its stake in Affiliated Managers Group by 3.4% in the first quarter. Seascape Capital Management now owns 16,740 shares of the asset manager’s stock valued at $2,813,000 after buying an additional 549 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Affiliated Managers Group by 18.4% in the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock valued at $9,028,000 after buying an additional 8,361 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Wall Street Zen cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Bank of America raised their target price on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, The Goldman Sachs Group raised their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.60.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Stock Up 0.7%

Shares of NYSE AMG opened at $238.32 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $250.15. The firm’s 50-day simple moving average is $236.07 and its 200 day simple moving average is $206.37. The stock has a market cap of $6.77 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.61 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. During the same period in the previous year, the business earned $4.67 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

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.