Cubist Systematic Strategies LLC Sells 38,245 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cubist Systematic Strategies LLC trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 91.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,678 shares of the asset manager’s stock after selling 38,245 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Affiliated Managers Group were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in Affiliated Managers Group in the 2nd quarter worth about $818,000. Quarry LP bought a new position in Affiliated Managers Group in the 2nd quarter worth about $145,000. Invst LLC increased its stake in Affiliated Managers Group by 6.3% in the 2nd quarter. Invst LLC now owns 5,208 shares of the asset manager’s stock worth $807,000 after acquiring an additional 310 shares during the last quarter. Creative Planning increased its stake in Affiliated Managers Group by 4.5% in the 2nd quarter. Creative Planning now owns 6,483 shares of the asset manager’s stock worth $1,013,000 after acquiring an additional 281 shares during the last quarter. Finally, Algert Global LLC increased its stake in Affiliated Managers Group by 74.8% in the 2nd quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock worth $13,944,000 after acquiring an additional 38,206 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 in the last 90 days. Insiders own 1.90% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $188.00 on Friday. The business has a 50 day simple moving average of $172.73 and a two-hundred day simple moving average of $165.60. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.58 and a beta of 1.20. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $189.83.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The business had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.45 EPS. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, August 8th. Affiliated Managers Group’s payout ratio is 0.22%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMG. Bank of America upped their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barrington Research upped their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TD Cowen upped their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.50.

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.