Covestor Ltd Has $84,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Covestor Ltd raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 21.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 471 shares of the asset manager’s stock after acquiring an additional 83 shares during the quarter. Covestor Ltd’s holdings in Affiliated Managers Group were worth $84,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMG. Ariel Investments LLC lifted its holdings in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after buying an additional 30,059 shares during the period. LSV Asset Management grew its stake in Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after buying an additional 2,000 shares during the last quarter. Raymond James & Associates grew its stake in Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after buying an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock worth $32,919,000 after acquiring an additional 11,565 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMG has been the topic of a number of recent analyst reports. Bank of America lifted their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday. Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Hold” and a consensus price target of $196.50.

Insider Activity

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 in the company, valued at $64,883,926.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $826,590.06. Following the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 over the last three months. 1.90% of the stock is owned by insiders.

Affiliated Managers Group Price Performance

NYSE AMG opened at $186.83 on Thursday. The stock’s 50 day simple moving average is $182.02 and its 200 day simple moving average is $169.77. Affiliated Managers Group, Inc. has a one year low of $131.34 and a one year high of $199.52. The firm has a market cap of $5.57 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.08 earnings per share. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

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.