Quadrature Capital Ltd Reduces Position in Affiliated Managers Group, Inc. $AMG

Quadrature Capital Ltd decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 27.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,230 shares of the asset manager’s stock after selling 1,233 shares during the period. Quadrature Capital Ltd’s holdings in Affiliated Managers Group were worth $635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Affiliated Managers Group by 89.1% in the 1st quarter. Cetera Investment Advisers now owns 5,481 shares of the asset manager’s stock valued at $921,000 after acquiring an additional 2,583 shares during the last quarter. US Bancorp DE grew its holdings in shares of Affiliated Managers Group by 15.8% in the first quarter. US Bancorp DE now owns 3,957 shares of the asset manager’s stock worth $665,000 after purchasing an additional 541 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Affiliated Managers Group in the first quarter worth about $405,000. Deutsche Bank AG increased its stake in Affiliated Managers Group by 16.8% in the 1st quarter. Deutsche Bank AG now owns 55,611 shares of the asset manager’s stock worth $9,344,000 after buying an additional 7,999 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Affiliated Managers Group by 12.6% during the 1st quarter. National Bank of Canada FI now owns 2,767 shares of the asset manager’s stock valued at $465,000 after buying an additional 309 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Down 0.6%

Shares of NYSE:AMG opened at $267.31 on Tuesday. The firm has a 50 day moving average of $247.30 and a 200 day moving average of $220.39. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $272.00.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $4.82 EPS. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s payout ratio is 0.24%.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the 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 completion of the sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMG. Barrington Research upped their target price on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group upped their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $290.33.

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.