Envestnet Asset Management Inc. Cuts Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Envestnet Asset Management Inc. trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 68.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,843 shares of the asset manager’s stock after selling 21,325 shares during the period. Envestnet Asset Management Inc.’s holdings in Affiliated Managers Group were worth $1,518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Affiliated Managers Group by 1.4% during the first quarter. BlackRock Inc. now owns 3,840,764 shares of the asset manager’s stock worth $572,389,000 after purchasing an additional 52,240 shares during the period. Lyrical Asset Management LP boosted its holdings in shares of Affiliated Managers Group by 6.9% during the first quarter. Lyrical Asset Management LP now owns 1,105,615 shares of the asset manager’s stock worth $164,770,000 after purchasing an additional 71,211 shares during the period. Northern Trust Corp boosted its holdings in shares of Affiliated Managers Group by 0.6% during the first quarter. Northern Trust Corp now owns 392,091 shares of the asset manager’s stock worth $58,434,000 after purchasing an additional 2,206 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Affiliated Managers Group by 184.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 376,676 shares of the asset manager’s stock worth $56,136,000 after purchasing an additional 244,373 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Affiliated Managers Group by 0.6% during the second quarter. Victory Capital Management Inc. now owns 364,341 shares of the asset manager’s stock worth $56,185,000 after purchasing an additional 2,078 shares during the period. Institutional investors own 98.38% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Citigroup reissued a “buy” rating and issued a $246.00 price target (up from $213.00) on shares of Affiliated Managers Group in a research note on Wednesday, July 7th. increased their price target on shares of Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $167.00 to $202.00 in a research note on Monday, July 12th. increased their price target on shares of Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, July 7th. Finally, Barrington Research increased their price target on shares of Affiliated Managers Group from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $213.00.

In related news, CEO Jay C. Horgen bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were bought at an average price of $158.01 per share, for a total transaction of $316,020.00. Following the completion of the acquisition, the chief executive officer now owns 183,783 shares of the company’s stock, valued at approximately $29,039,551.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight D. Churchill bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was bought at an average price of $160.89 per share, for a total transaction of $160,890.00. Following the acquisition, the director now directly owns 13,635 shares of the company’s stock, valued at approximately $2,193,735.15. The disclosure for this purchase can be found here. 0.70% of the stock is owned by company insiders.

Shares of NYSE AMG opened at $149.64 on Tuesday. Affiliated Managers Group, Inc. has a fifty-two week low of $62.19 and a fifty-two week high of $180.97. The company has a 50 day simple moving average of $164.76 and a two-hundred day simple moving average of $159.97. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 0.63 and a beta of 1.37.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Tuesday, July 27th. The asset manager reported $4.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.85 by $0.18. The business had revenue of $586.30 million during the quarter, compared to the consensus estimate of $590.66 million. Affiliated Managers Group had a net margin of 20.33% and a return on equity of 20.31%. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 17.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Friday, August 6th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, August 5th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.30%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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