Affiliated Managers Group, Inc. $AMG Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.7% in the second quarter, Holdings Channel.com reports. The firm owned 255,779 shares of the asset manager’s stock after selling 21,370 shares during the quarter. Bank of New York Mellon Corp’s holdings in Affiliated Managers Group were worth $50,330,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Millstone Evans Group LLC increased its stake in Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after buying an additional 102 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Affiliated Managers Group in the second quarter worth $58,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Affiliated Managers Group during the first quarter worth $56,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of recent research reports. Barrington Research boosted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Bank of America increased their price objective on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Finally, The Goldman Sachs Group increased their price target on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $290.33.

Affiliated Managers Group Trading Down 1.0%

Shares of Affiliated Managers Group stock opened at $257.10 on Wednesday. The firm has a fifty day simple moving average of $240.36 and a 200-day simple moving average of $211.93. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $262.68.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping the consensus estimate of $5.88 by $0.22. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.82 EPS. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 13th. Affiliated Managers Group’s payout ratio is currently 0.24%.

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.