Custom Index Systems LLC Sells 148 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Custom Index Systems LLC trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,889 shares of the asset manager’s stock after selling 148 shares during the period. Custom Index Systems LLC’s holdings in Affiliated Managers Group were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMG. Norges Bank bought a new stake in Affiliated Managers Group during the fourth quarter valued at about $66,223,000. Allianz Asset Management GmbH boosted its holdings in Affiliated Managers Group by 22.2% during the fourth quarter. Allianz Asset Management GmbH now owns 511,958 shares of the asset manager’s stock valued at $77,521,000 after acquiring an additional 92,913 shares during the period. Ariel Investments LLC boosted its holdings in Affiliated Managers Group by 6.8% during the first quarter. Ariel Investments LLC now owns 1,327,009 shares of the asset manager’s stock valued at $222,234,000 after acquiring an additional 84,313 shares during the period. Victory Capital Management Inc. boosted its holdings in Affiliated Managers Group by 150.1% during the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after acquiring an additional 59,659 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Affiliated Managers Group by 36.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after acquiring an additional 47,239 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMG has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research upped their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.80.

Affiliated Managers Group Stock Down 2.5 %

NYSE:AMG opened at $163.90 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $189.81. The firm has a market capitalization of $5.22 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.55 and a beta of 1.20. The firm has a 50-day moving average price of $168.50 and a 200 day moving average price of $162.67.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. During the same quarter in the prior year, the business posted $4.45 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts expect that Affiliated Managers Group, Inc. will post 21.94 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Insider Buying and Selling

In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 over the last quarter. Corporate insiders own 1.90% 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.