Russell Investments Group Ltd. Trims Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Russell Investments Group Ltd. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,451 shares of the asset manager’s stock after selling 3,737 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Affiliated Managers Group worth $7,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AMG. JPMorgan Chase & Co. increased its position in Affiliated Managers Group by 213.5% in the second quarter. JPMorgan Chase & Co. now owns 758,808 shares of the asset manager’s stock worth $117,016,000 after buying an additional 516,751 shares in the last quarter. Millennium Management LLC increased its position in Affiliated Managers Group by 446.1% in the second quarter. Millennium Management LLC now owns 147,116 shares of the asset manager’s stock worth $22,687,000 after buying an additional 120,178 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Affiliated Managers Group by 462.0% in the third quarter. Assenagon Asset Management S.A. now owns 122,676 shares of the asset manager’s stock worth $18,535,000 after buying an additional 100,849 shares in the last quarter. Natixis purchased a new stake in Affiliated Managers Group in the second quarter worth about $6,261,000. Finally, FMR LLC increased its position in Affiliated Managers Group by 2.7% in the second quarter. FMR LLC now owns 1,495,978 shares of the asset manager’s stock worth $230,696,000 after buying an additional 40,032 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Several analysts recently issued reports on AMG shares. Bank of America started coverage on Affiliated Managers Group in a research report on Thursday, December 16th. They set a “neutral” rating and a $186.00 target price for the company. Citigroup increased their target price on Affiliated Managers Group from $275.00 to $280.00 in a research report on Tuesday. Barrington Research increased their target price on Affiliated Managers Group from $190.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Affiliated Managers Group from $212.00 to $211.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $218.86.

In related news, Director Reuben Jeffery III acquired 2,700 shares of the stock in a transaction dated Tuesday, November 2nd. The stock was acquired at an average cost of $188.39 per share, with a total value of $508,653.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John R. Erickson acquired 3,000 shares of the stock in a transaction dated Friday, December 3rd. The stock was bought at an average cost of $169.95 per share, with a total value of $509,850.00. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

NYSE AMG opened at $156.50 on Friday. The stock has a market capitalization of $6.36 billion, a PE ratio of 13.61, a P/E/G ratio of 0.47 and a beta of 1.35. The business has a 50 day simple moving average of $168.53 and a two-hundred day simple moving average of $164.83. Affiliated Managers Group, Inc. has a 1-year low of $107.97 and a 1-year high of $191.62.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 1st. The asset manager reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.91 by $0.09. The business had revenue of $575.20 million during the quarter, compared to analysts’ expectations of $587.91 million. Affiliated Managers Group had a return on equity of 21.02% and a net margin of 22.12%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 EPS. Equities analysts predict that Affiliated Managers Group, Inc. will post 18.09 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Wednesday, November 10th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Tuesday, November 9th. Affiliated Managers Group’s dividend payout ratio is presently 0.35%.

Affiliated Managers Group 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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