United Services Automobile Association Invests $321,000 in Affiliated Managers Group, Inc. $AMG

Key Points

• United Services Automobile Association invested approximately $321,000 in Affiliated Managers Group, acquiring 1,919 shares during the first quarter.
• Several institutional investors have increased their stakes in Affiliated Managers Group, with notable increases including Millstone Evans Group's holdings up by 154.5%.
• Brokerages have generally upgraded Affiliated Managers Group's stock rating to "buy," with the consensus price target adjusted to $242.40.

United Services Automobile Association acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,919 shares of the asset manager's stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC boosted its holdings in Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after acquiring an additional 102 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Affiliated Managers Group in the first quarter valued at $36,000. Private Trust Co. NA boosted its holdings in Affiliated Managers Group by 38.1% in 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 during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Affiliated Managers Group in the first quarter valued at $56,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMG. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Bank of America raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. TD Cowen raised 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 research report on Monday, August 4th. Finally, Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $242.40.

Affiliated Managers Group Stock Down 0.1%

Shares of Affiliated Managers Group stock opened at $235.82 on Friday. The firm has a market cap of $6.70 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.62 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 $238.29. The business has a 50-day moving average price of $217.10 and a 200 day moving average price of $187.69.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed 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%.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by company insiders.

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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