Affiliated Managers Group, Inc. $AMG Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Affiliated Managers Group, Inc. by 144.6% during the second quarter, owning 28,250 shares worth approximately $5.55 million.
• Affiliated Managers Group reported earnings of $5.39 per share for the latest quarter, surpassing analyst estimates, although revenue fell slightly by 1.4% year-over-year.
• A recent insider transaction saw COO Thomas M. Wojcik sell 16,000 shares at an average price of $231.03, which represented a 9.16% decrease in his ownership stake.

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 144.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,250 shares of the asset manager's stock after buying an additional 16,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned about 0.10% of Affiliated Managers Group worth $5,550,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMG. Millennium Management LLC increased its stake in Affiliated Managers Group by 314.3% during the 1st 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. GAMMA Investing LLC increased its stake in Affiliated Managers Group by 14,091.8% during the 1st quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after buying an additional 125,135 shares during the period. Nuveen LLC purchased a new stake in Affiliated Managers Group during the 1st quarter worth approximately $16,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Affiliated Managers Group by 210.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,471 shares of the asset manager's stock worth $25,051,000 after buying an additional 91,819 shares during the period. Finally, LSV Asset Management lifted its stake in Affiliated Managers Group by 10.4% in the first quarter. LSV Asset Management now owns 468,084 shares of the asset manager's stock worth $78,652,000 after acquiring an additional 44,090 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the firm'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 completion of the sale, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMG. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Bank of America upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $236.00 to $331.00 in a research note on Tuesday, September 2nd. Barrington Research reiterated an "outperform" rating and issued a $240.00 price target on shares of Affiliated Managers Group in a research note on Tuesday. Finally, Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $250.40.

Affiliated Managers Group Stock Down 0.5%

NYSE:AMG traded down $1.26 during trading hours on Tuesday, reaching $242.75. 76,271 shares of the company's stock were exchanged, compared to its average volume of 223,176. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.64 and a beta of 1.19. The company has a 50-day moving average of $221.40 and a 200 day moving average of $191.15. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $250.15.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $5.39 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 company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter last year, the business earned $4.67 EPS. The business's revenue was down 1.4% on a year-over-year basis. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid 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 (DPR) is 0.29%.

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.