Schubert & Co Has $432,000 Stock Holdings in Affiliated Managers Group, Inc. $AMG

Schubert & Co cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 30.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,197 shares of the asset manager’s stock after selling 973 shares during the quarter. Schubert & Co’s holdings in Affiliated Managers Group were worth $432,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMG. Millstone Evans Group LLC raised its holdings in Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after purchasing an additional 102 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group during the 1st quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 purchasing an additional 102 shares in the last quarter. Private Trust Co. NA increased its stake in Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Affiliated Managers Group during the 1st quarter valued at $56,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG opened at $235.89 on Friday. The firm has a market cap of $6.70 billion, a P/E ratio of 17.22, a P/E/G ratio of 0.60 and a beta of 1.21. The stock has a 50 day simple moving average of $232.11 and a two-hundred day simple moving average of $200.38. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $250.15.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.67 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 11th. Affiliated Managers Group’s dividend payout ratio is 0.29%.

Analyst Ratings Changes

A number of brokerages have commented on AMG. Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. Bank of America lifted their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $272.60.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.