Affiliated Managers Group, Inc. $AMG Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its holdings in Affiliated Managers Group by 11.1% in Q2, now owning 10,885 shares valued at approximately $2.14 million.
• Several institutional investors have significantly increased their stakes, with Millennium Management LLC boosting its position by 314.3% in Q1, now holding over 1.26 million shares valued at about $212.67 million.
• Affiliated Managers Group reported an EPS of $5.39 for the last quarter, exceeding analysts' expectations, although revenue decreased year-over-year by 1.4%.

Blair William & Co. IL decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,885 shares of the asset manager's stock after selling 1,364 shares during the period. Blair William & Co. IL's holdings in Affiliated Managers Group were worth $2,142,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMG. Millennium Management LLC increased its position in Affiliated Managers Group by 314.3% during the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager's stock worth $212,668,000 after buying an additional 960,158 shares during the period. Nuveen LLC acquired a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $16,060,000. LSV Asset Management increased its holdings in shares of Affiliated Managers Group by 10.4% in the first quarter. LSV Asset Management now owns 468,084 shares of the asset manager's stock valued at $78,652,000 after purchasing an additional 44,090 shares during the period. Northern Trust Corp increased its holdings in shares of Affiliated Managers Group by 10.2% in the first quarter. Northern Trust Corp now owns 385,292 shares of the asset manager's stock valued at $64,741,000 after purchasing an additional 35,681 shares during the period. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of Affiliated Managers Group by 55.3% in the first quarter. Brandywine Global Investment Management LLC now owns 76,293 shares of the asset manager's stock valued at $12,820,000 after purchasing an additional 27,165 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

AMG opened at $239.00 on Wednesday. The business's fifty day moving average is $230.63 and its two-hundred day moving average is $199.00. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.60 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.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its 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 company had revenue of $493.20 million for 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%.Affiliated Managers Group's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.67 earnings per share. On average, analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio is currently 0.29%.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value 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. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMG shares. Barrington Research boosted their target price on Affiliated Managers Group from $240.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Bank of America lifted their price target on Affiliated Managers Group to $335.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group lifted their price target 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. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group has an average rating of "Moderate Buy" and a consensus target price of $272.60.

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.

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.