Affiliated Managers Group, Inc. (NYSE:AMG) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 103.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 794 shares of the asset manager’s stock after purchasing an additional 404 shares during the period. GAMMA Investing LLC’s holdings in Affiliated Managers Group were worth $141,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AMG. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group in the second quarter worth $28,000. Denali Advisors LLC increased its position in shares of Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at about $47,000. Goodman Advisory Group LLC bought a new position in shares of Affiliated Managers Group during the second quarter worth about $50,000. Finally, Quarry LP acquired a new position in Affiliated Managers Group in the second quarter worth about $145,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of AMG opened at $188.00 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $189.83. The stock has a fifty day moving average price of $172.73 and a 200 day moving average price of $165.60. The company has a market cap of $5.99 billion, a P/E ratio of 10.43, a PEG ratio of 0.58 and a beta of 1.20.

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, topping the consensus estimate 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 net margin of 31.51% and a return on equity of 16.50%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.45 earnings per share. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.98 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Transactions at Affiliated Managers Group

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

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.