Callan Family Office LLC Purchases Shares of 1,713 Affiliated Managers Group, Inc. $AMG

Key Points

• Callan Family Office LLC bought 1,713 shares of Affiliated Managers Group, Inc. for approximately $337,000 during the second quarter.
• The asset manager saw significant investments from other institutional investors, with Envestnet Asset Management increasing its stake by 18.4% in the first quarter.
• Analysts have varying recommendations for the stock, with price targets raised by Barrington Research to $285.00 and Bank of America to $335.00, reflecting a generally positive outlook.

Callan Family Office LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,713 shares of the asset manager's stock, valued at approximately $337,000.

Other institutional investors have also recently bought and sold shares of the company. 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 in the last quarter. Private Trust Co. NA lifted its stake 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 buying an additional 83 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Affiliated Managers Group by 785.2% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after buying an additional 1,649 shares in the last quarter. XTX Topco Ltd lifted its stake in Affiliated Managers Group by 189.9% in the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock valued at $2,469,000 after buying an additional 9,626 shares in the last quarter. Finally, Goodman Financial Corp lifted its stake in Affiliated Managers Group by 1.6% in the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock valued at $13,578,000 after buying an additional 1,301 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of research reports. Barrington Research lifted their price target on shares of Affiliated Managers Group from $240.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Bank of America boosted their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, Zacks Research lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $272.60.

Affiliated Managers Group Trading Down 0.2%

NYSE AMG opened at $238.71 on Thursday. The firm's fifty day moving average price is $231.14 and its two-hundred day moving average price is $199.28. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $250.15. The firm has a market capitalization of $6.78 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. During the same period in the prior year, the firm posted $4.67 earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts anticipate 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. Shareholders of record on Monday, August 11th were issued 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 payout ratio is currently 0.29%.

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.

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.