Assetmark Inc. Has $5.07 Million Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Assetmark Inc. increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 28,508 shares of the asset manager’s stock after acquiring an additional 239 shares during the quarter. Assetmark Inc.’s holdings in Affiliated Managers Group were worth $5,069,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Affiliated Managers Group by 50.4% during the 1st quarter. BNP Paribas Financial Markets now owns 7,300 shares of the asset manager’s stock valued at $1,223,000 after purchasing an additional 2,447 shares during the period. Sei Investments Co. grew its stake in Affiliated Managers Group by 40.8% during the 1st quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock valued at $8,069,000 after acquiring an additional 13,968 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Affiliated Managers Group by 1.0% in the 1st quarter. Russell Investments Group Ltd. now owns 78,279 shares of the asset manager’s stock valued at $13,109,000 after purchasing an additional 789 shares during the period. Sheets Smith Wealth Management purchased a new stake in shares of Affiliated Managers Group in the first quarter worth approximately $411,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Affiliated Managers Group by 41.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 45,074 shares of the asset manager’s stock worth $7,549,000 after purchasing an additional 13,206 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.0 %

Shares of Affiliated Managers Group stock opened at $186.83 on Tuesday. Affiliated Managers Group, Inc. has a 1-year low of $129.99 and a 1-year high of $199.52. The firm has a fifty day simple moving average of $181.40 and a 200-day simple moving average of $169.48. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.65 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.08 EPS. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 21.25 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Insider Activity

In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMG. Barrington Research decreased their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.50.

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.