Reinhart Partners LLC. Has $6.65 Million Stake in Affiliated Managers Group, Inc. $AMG

Reinhart Partners LLC. reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 25.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,657 shares of the asset manager’s stock after selling 6,628 shares during the quarter. Reinhart Partners LLC.’s holdings in Affiliated Managers Group were worth $6,652,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Captrust Financial Advisors lifted its position in Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after buying an additional 34 shares during the period. GAMMA Investing LLC grew its position in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after buying an additional 34 shares during the period. AlphaCore Capital LLC grew its position in shares of Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after buying an additional 36 shares during the period. Parallel Advisors LLC increased its stake in shares of Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Affiliated Managers Group by 10.3% in the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after acquiring an additional 45 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $369.34 on Friday. Affiliated Managers Group, Inc. has a one year low of $210.87 and a one year high of $392.92. The company’s 50-day moving average is $353.04 and its 200 day moving average is $317.06. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.39 earnings per share. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 36.25 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th 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 is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMG. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $370.86.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the acquisition, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.