Bank of Montreal Can Sells 2,737 Shares of Affiliated Managers Group, Inc. $AMG

Bank of Montreal Can trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 14.9% during the second quarter, Holdings Channel.com reports. The firm owned 15,613 shares of the asset manager’s stock after selling 2,737 shares during the period. Bank of Montreal Can’s holdings in Affiliated Managers Group were worth $3,072,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Millstone Evans Group LLC boosted its position in shares of Affiliated Managers Group by 154.5% during the first 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 last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Affiliated Managers Group during the first quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. increased its stake 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 worth $45,000 after purchasing an additional 102 shares during the last quarter. American National Bank & Trust bought a new stake in shares of Affiliated Managers Group in the second quarter valued at $58,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Affiliated Managers Group in the 1st quarter valued at about $56,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $264.24 on Thursday. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $264.81. The stock’s 50 day simple moving average is $241.04 and its two-hundred day simple moving average is $212.30. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $4.82 EPS. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the transaction, the chief operating officer directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.33.

About Affiliated Managers Group

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.