Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 34.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,143 shares of the asset manager’s stock after selling 36,973 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Affiliated Managers Group worth $12,294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group during the 2nd quarter valued at about $28,000. UMB Bank n.a. increased its stake in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $47,000. Goodman Advisory Group LLC acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $50,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Affiliated Managers Group by 2,530.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 789 shares of the asset manager’s stock valued at $140,000 after buying an additional 759 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMG has been the subject of a number of analyst reports. Bank of America boosted their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.50.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Affiliated Managers Group Trading Down 0.4 %

Shares of NYSE:AMG opened at $186.42 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $131.34 and a 12-month high of $199.52. The stock’s 50-day moving average price is $182.85 and its two-hundred day moving average price is $170.18. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.68 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 (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period in the prior year, the business posted $4.08 earnings per share. Affiliated Managers Group’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued 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.