10,612 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Acquired by ClariVest Asset Management LLC

ClariVest Asset Management LLC acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,612 shares of the asset manager’s stock, valued at approximately $1,658,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $47,000. Texas Permanent School Fund Corp raised its holdings in Affiliated Managers Group by 3.6% during the second quarter. Texas Permanent School Fund Corp now owns 30,646 shares of the asset manager’s stock valued at $4,788,000 after buying an additional 1,057 shares in the last quarter. Quest Partners LLC lifted its position in shares of Affiliated Managers Group by 9.0% in the second quarter. Quest Partners LLC now owns 5,844 shares of the asset manager’s stock worth $913,000 after buying an additional 484 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth about $741,000. Finally, LSV Asset Management increased its holdings in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after acquiring an additional 2,000 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction on Friday, August 16th. The shares were 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 owns 84,392 shares in the company, valued at approximately $14,575,342.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group 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 sale, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock worth $3,865,068 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $165.03 on Thursday. The company’s fifty day moving average is $169.01 and its two-hundred day moving average is $162.83. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $189.81. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.51 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter in the prior year, the firm posted $4.45 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.01 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.22%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMG. Deutsche Bank Aktiengesellschaft upped their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barrington Research boosted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. TD Cowen raised their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.80.

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.