OLD National Bancorp IN Makes New $214,000 Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• OLD National Bancorp IN made a new investment of approximately $214,000 in shares of Affiliated Managers Group, purchasing 1,089 shares during the second quarter.
• Affiliated Managers Group's stock has seen a significant increase in interest from institutional investors, with 95.30% of the company's stock now owned by such investors.
• The company recently posted a $5.39 EPS for the second quarter, exceeding analysts' expectations, despite a slight decline in year-over-year revenue.

OLD National Bancorp IN bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,089 shares of the asset manager's stock, valued at approximately $214,000.

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC increased its holdings in Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after purchasing an additional 102 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Affiliated Managers Group during the 1st quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock worth $45,000 after purchasing an additional 102 shares in the last quarter. American National Bank & Trust bought a new position in Affiliated Managers Group during the 2nd quarter worth about $58,000. Finally, Private Trust Co. NA grew its holdings in shares of Affiliated Managers Group by 38.1% in the 1st 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. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $241.78 on Thursday. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $250.15. The stock has a market capitalization of $6.87 billion, a P/E ratio of 17.65, a PEG ratio of 0.62 and a beta of 1.21. The stock has a 50-day simple moving average of $228.54 and a 200 day simple moving average of $196.99.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly 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. 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 during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter last year, the company posted $4.67 earnings per share. Affiliated Managers Group's quarterly revenue was down 1.4% on a year-over-year basis. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given 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 dividend payout ratio (DPR) is 0.29%.

Analysts Set New Price Targets

AMG has been the subject of several analyst reports. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $214.00 to $255.00 in a report on Monday, August 4th. Bank of America raised their price objective on Affiliated Managers Group to $335.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a report on Wednesday. Finally, Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $272.60.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by company 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.

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