Brandywine Global Investment Management LLC Reduces Position in Affiliated Managers Group, Inc. $AMG

Brandywine Global Investment Management LLC decreased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,336 shares of the asset manager’s stock after selling 957 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.26% of Affiliated Managers Group worth $14,824,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Affiliated Managers Group in the first quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Affiliated Managers Group by 80.3% in the second 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 bought a new position in Affiliated Managers Group during the 2nd quarter valued at $58,000. Finally, Brooklyn Investment Group grew its holdings in Affiliated Managers Group by 37.1% during the 1st quarter. Brooklyn Investment Group now owns 377 shares of the asset manager’s stock worth $63,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 1.7%

AMG opened at $257.25 on Friday. The company’s 50-day moving average price is $244.07 and its 200 day moving average price is $216.20. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $265.59. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.82 earnings per share. Research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 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 28th. Shareholders of record on Thursday, November 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction 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 directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMG. Jefferies Financial Group restated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a report on Tuesday, November 4th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Bank of America boosted their price target on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.