Affiliated Managers Group, Inc. $AMG Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Affiliated Managers Group, Inc. by 3.2%, now holding 165,710 shares valued at approximately $27.8 million.
• Affiliated Managers Group's stock has recently seen a 1.3% decline in value, with a current market price of $230.09.
• Analysts have mixed ratings on the stock, with notable upgrades from Goldman Sachs and Zacks Research, contributing to a consensus rating of "Buy" with an average target price of $242.40.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,710 shares of the asset manager's stock after selling 5,505 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.58% of Affiliated Managers Group worth $27,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of AMG. Envestnet Asset Management Inc. lifted its position in shares of Affiliated Managers Group by 18.4% during 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. Private Trust Co. NA increased its holdings in shares of Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after acquiring an additional 83 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Affiliated Managers Group by 785.2% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after acquiring an additional 1,649 shares in the last quarter. XTX Topco Ltd increased its holdings in Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock worth $2,469,000 after buying an additional 9,626 shares during the period. Finally, Goodman Financial Corp increased its holdings in Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock worth $13,578,000 after buying an additional 1,301 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded up $4.43 during midday trading on Thursday, reaching $236.87. 40,236 shares of the company's stock were exchanged, compared to its average volume of 221,135. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 0.61 and a beta of 1.19. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $237.18. The firm's 50 day simple moving average is $215.72 and its two-hundred day simple moving average is $186.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. The firm 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 firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.67 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Monday, August 11th. Affiliated Managers Group's dividend payout ratio is 0.29%.

Analysts Set New Price Targets

AMG has been the topic of several research reports. Bank of America upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $236.00 to $331.00 in a report on Tuesday, September 2nd. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $242.40.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 158,710 shares of the company's stock, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

About Affiliated Managers Group

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.