Wells Fargo & Company MN Has $7.48 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Wells Fargo & Company MN decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 34.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,494 shares of the asset manager’s stock after selling 67,740 shares during the period. Wells Fargo & Company MN owned approximately 0.27% of Affiliated Managers Group worth $7,480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMG. ACR Alpine Capital Research LLC acquired a new position in Affiliated Managers Group during the first quarter worth $92,959,000. Norges Bank acquired a new position in Affiliated Managers Group during the fourth quarter worth $43,871,000. Oppenheimer Asset Management Inc. raised its holdings in Affiliated Managers Group by 4,078.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 468,408 shares of the asset manager’s stock worth $27,702,000 after buying an additional 457,197 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in Affiliated Managers Group by 4.9% during the first quarter. EdgePoint Investment Group Inc. now owns 8,538,920 shares of the asset manager’s stock worth $504,992,000 after buying an additional 398,760 shares during the last quarter. Finally, Kiltearn Partners LLP raised its holdings in Affiliated Managers Group by 21.1% during the first quarter. Kiltearn Partners LLP now owns 1,776,475 shares of the asset manager’s stock worth $105,061,000 after buying an additional 309,345 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Several research analysts have weighed in on AMG shares. Barrington Research restated an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Affiliated Managers Group in a report on Monday, April 27th. They noted that the move was a valuation call. Bank of America reduced their target price on shares of Affiliated Managers Group from $63.00 to $48.00 and set an “underperform” rating for the company in a research note on Monday, March 23rd. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Monday. Deutsche Bank reduced their target price on shares of Affiliated Managers Group from $67.00 to $64.00 and set a “hold” rating for the company in a research note on Friday, May 15th. Finally, Citigroup reduced their target price on shares of Affiliated Managers Group from $70.00 to $66.50 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Affiliated Managers Group currently has a consensus rating of “Hold” and an average target price of $65.79.

Shares of NYSE:AMG opened at $72.35 on Tuesday. The firm has a market capitalization of $3.37 billion, a PE ratio of 5.04, a P/E/G ratio of 0.51 and a beta of 1.55. Affiliated Managers Group, Inc. has a twelve month low of $44.37 and a twelve month high of $94.07. The company has a 50-day moving average price of $70.24 and a two-hundred day moving average price of $72.85.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, April 27th. The asset manager reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.08. The firm had revenue of $543.10 million during the quarter, compared to analyst estimates of $496.33 million. Affiliated Managers Group had a net margin of 9.12% and a return on equity of 19.43%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $3.26 earnings per share. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 11.75 EPS for the current year.

In other news, Director Dwight D. Churchill purchased 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $71.83 per share, with a total value of $71,830.00. Following the completion of the acquisition, the director now owns 10,069 shares in the company, valued at approximately $723,256.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay C. Horgen purchased 10,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $59.26 per share, for a total transaction of $592,600.00. Following the completion of the acquisition, the chief executive officer now owns 137,667 shares of the company’s stock, valued at approximately $8,158,146.42. The disclosure for this purchase can be found here. Insiders have acquired 21,000 shares of company stock valued at $1,316,530 in the last quarter. Company insiders own 1.69% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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

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