Reinhart Partners LLC. Decreases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Reinhart Partners LLC. lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,574 shares of the asset manager’s stock after selling 8,376 shares during the quarter. Reinhart Partners LLC. owned approximately 0.28% of Affiliated Managers Group worth $15,926,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $28,000. UMB Bank n.a. raised its stake in Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares during the last quarter. Denali Advisors LLC lifted its holdings in Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group during the 2nd quarter worth $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Affiliated Managers Group during the second quarter worth $50,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $188.10 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $189.83. The firm has a market cap of $5.99 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20. The company has a 50-day moving average of $172.73 and a two-hundred day moving average of $165.58.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating 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 the consensus estimate of $518.03 million. During the same quarter last year, the firm earned $4.45 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction that occurred on 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 in the company, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The stock was 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 directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock worth $3,865,068 over the last three months. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. TD Cowen boosted their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barrington Research raised their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

Affiliated Managers Group Company 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.