Vise Technologies Inc. Purchases Shares of 5,131 Affiliated Managers Group, Inc. $AMG

Vise Technologies Inc. acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,131 shares of the asset manager’s stock, valued at approximately $1,010,000.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock worth $9,028,000 after acquiring an additional 8,361 shares during the last quarter. XTX Topco Ltd raised its holdings in Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock valued at $2,469,000 after acquiring an additional 9,626 shares during the last quarter. Voya Investment Management LLC increased its stake in Affiliated Managers Group by 52.2% during the first quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock worth $4,823,000 after acquiring an additional 9,845 shares during the last quarter. Goodman Financial Corp raised its stake in shares of Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock valued at $13,578,000 after acquiring an additional 1,301 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Affiliated Managers Group by 79.4% in the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 266 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Down 0.9%

Shares of NYSE:AMG traded down $2.29 during midday trading on Thursday, reaching $262.51. 4,834 shares of the company were exchanged, compared to its average volume of 226,947. The stock has a fifty day simple moving average of $241.04 and a two-hundred day simple moving average of $212.30. 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 $7.38 billion, a PE ratio of 19.19, a P/E/G ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. During the same quarter last year, the company earned $4.82 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast 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. Shareholders of record on Thursday, November 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AMG. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Barrington Research lifted their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.