Affiliated Managers Group, Inc. (NYSE:AMG) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 43.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,951 shares of the asset manager’s stock after buying an additional 24,119 shares during the period. Assenagon Asset Management S.A. owned 0.25% of Affiliated Managers Group worth $14,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in Affiliated Managers Group by 87.1% in the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares in the last quarter. Diversified Trust Co acquired a new position in Affiliated Managers Group during the second quarter worth $1,293,000. Susquehanna Fundamental Investments LLC purchased a new stake in Affiliated Managers Group in the 1st quarter valued at $4,094,000. LSV Asset Management increased its stake in shares of Affiliated Managers Group by 10.9% in the 1st quarter. LSV Asset Management now owns 238,504 shares of the asset manager’s stock worth $39,942,000 after acquiring an additional 23,454 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Affiliated Managers Group by 40.8% during the 1st quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock worth $8,069,000 after acquiring an additional 13,968 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMG. TD Cowen upped their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barrington Research upped their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $210.50.

Insider Activity

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the transaction, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is currently owned by insiders.

Affiliated Managers Group Stock Up 0.7 %

NYSE:AMG opened at $191.35 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $121.56 and a 52 week high of $196.69. The stock’s fifty day moving average is $178.01 and its two-hundred day moving average is $167.37. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. The firm had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

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.