Reinhart Partners LLC. Has $12.67 Million Stock Holdings in Affiliated Managers Group, Inc. $AMG

Reinhart Partners LLC. lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,410 shares of the asset manager’s stock after selling 5,833 shares during the period. Reinhart Partners LLC. owned about 0.23% of Affiliated Managers Group worth $12,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMG. Redwood Investment Management LLC increased its stake in Affiliated Managers Group by 0.9% in the 1st quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock valued at $1,306,000 after buying an additional 69 shares during the last quarter. Cetera Investment Advisers increased its stake in Affiliated Managers Group by 2.5% in the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock valued at $536,000 after buying an additional 70 shares during the last quarter. Versant Capital Management Inc increased its stake in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after buying an additional 75 shares during the last quarter. Parallel Advisors LLC increased its stake in Affiliated Managers Group by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock valued at $197,000 after buying an additional 75 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Affiliated Managers Group by 11.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock valued at $124,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.1%

Shares of Affiliated Managers Group stock opened at $234.67 on Wednesday. The company has a market cap of $6.67 billion, a PE ratio of 17.13, a P/E/G ratio of 0.62 and a beta of 1.19. The business has a 50 day moving average of $218.43 and a 200 day moving average of $188.74. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $238.29.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. During the same period in the prior year, the firm posted $4.67 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.29%.

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction 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 sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their target price for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Buy” and an average target price of $242.40.

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.