Livforsakringsbolaget Skandia Omsesidigt Purchases 16,700 Shares of Affiliated Managers Group, Inc. $AMG

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 grew its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 144.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,250 shares of the asset manager's stock after acquiring 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 also recently bought and sold shares of AMG. Cetera Investment Advisers lifted its stake in Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after acquiring an additional 70 shares during the last quarter. ProShare Advisors LLC lifted its stake in Affiliated Managers Group by 8.8% during the fourth quarter. ProShare Advisors LLC now owns 1,415 shares of the asset manager's stock valued at $262,000 after buying an additional 115 shares in the last quarter. Two Sigma Investments LP raised its holdings in Affiliated Managers Group by 18.0% during the fourth quarter. Two Sigma Investments LP now owns 21,569 shares of the asset manager's stock valued at $3,989,000 after buying an additional 3,295 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Affiliated Managers Group by 107.0% in the fourth quarter. Two Sigma Advisers LP now owns 8,900 shares of the asset manager's stock valued at $1,646,000 after acquiring an additional 4,600 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 valued at $25,051,000 after purchasing an additional 91,819 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 0.5%

NYSE:AMG traded down $1.26 during mid-day trading on Friday, hitting $243.08. 328,724 shares of the stock traded hands, compared to its average volume of 193,661. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $245.96. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.64 and a beta of 1.19. The firm's 50 day moving average is $220.64 and its two-hundred day moving average is $190.35.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. During the same period in the prior year, the firm posted $4.67 earnings per share. The business's quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

AMG has been the topic of a number of recent research reports. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Bank of America upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Finally, The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $197.00 to $218.00 in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $242.40.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction dated 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 sale, the chief operating officer owned 158,710 shares of the company's stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

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.