QRG Capital Management Inc. Invests $269,000 in Affiliated Managers Group, Inc. $AMG

Key Points

• QRG Capital Management Inc. invested approximately $269,000 in Affiliated Managers Group, acquiring 1,366 shares during the 2nd quarter.
• Affiliated Managers Group's CEO sold 16,000 shares for about $3.7 million, reducing their ownership by 9.16%.
• Analysts have increased the target price for Affiliated Managers Group, with Goldman Sachs raising it from $240 to $280 and barrington research to $285, indicating strong investor confidence.

QRG Capital Management Inc. acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,366 shares of the asset manager's stock, valued at approximately $269,000.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC lifted its holdings in shares of 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 acquiring an additional 102 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Affiliated Managers Group during the 1st quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of 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 acquiring an additional 102 shares during the period. Private Trust Co. NA lifted its holdings in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after acquiring an additional 83 shares during the period. Finally, Rossby Financial LCC acquired a new stake in Affiliated Managers Group during the 1st quarter worth approximately $56,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction 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. This trade 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.

Analyst Upgrades and Downgrades

AMG has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. 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. Barrington Research increased their target price on shares of Affiliated Managers Group from $240.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday. Finally, TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $272.60.

Affiliated Managers Group Trading Down 4.6%

AMG stock opened at $230.66 on Friday. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $250.15. The company has a market capitalization of $6.55 billion, a P/E ratio of 16.84, a PEG ratio of 0.59 and a beta of 1.21. The firm has a 50 day simple moving average of $229.66 and a 200-day simple moving average of $198.05.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. During the same quarter last year, the company earned $4.67 earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid 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%.

Affiliated Managers Group Company 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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