Whittier Trust Co. Lowers Stock Holdings in Affiliated Managers Group, Inc. $AMG

Whittier Trust Co. trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 41.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190 shares of the asset manager’s stock after selling 135 shares during the quarter. Whittier Trust Co.’s holdings in Affiliated Managers Group were worth $37,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 18.4% in the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock worth $9,028,000 after buying an additional 8,361 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock worth $51,000 after buying an additional 83 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Affiliated Managers Group by 189.9% in the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock worth $2,469,000 after buying an additional 9,626 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Affiliated Managers Group by 52.2% in the first quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock worth $4,823,000 after buying an additional 9,845 shares in the last quarter. Finally, Goodman Financial Corp lifted its holdings in shares of Affiliated Managers Group by 1.6% in the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock worth $13,578,000 after buying an additional 1,301 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMG has been the topic of several research analyst reports. Bank of America upped their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Friday. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.60.

Affiliated Managers Group Stock Up 0.7%

Shares of NYSE AMG opened at $240.58 on Friday. The firm’s fifty day moving average is $234.09 and its 200 day moving average is $203.15. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $250.15. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.61 and a beta of 1.21.

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

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction dated 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 directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.