Cetera Trust Company N.A Acquires 165 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Cetera Trust Company N.A lifted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 17.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,120 shares of the asset manager’s stock after purchasing an additional 165 shares during the period. Cetera Trust Company N.A’s holdings in Affiliated Managers Group were worth $199,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AMG. Ariel Investments LLC increased its stake in shares of Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares during the period. Victory Capital Management Inc. increased its stake 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. Jacobs Levy Equity Management Inc. increased its stake 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. Algert Global LLC increased its stake in Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after acquiring an additional 38,206 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Affiliated Managers Group by 59.1% during the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock valued at $14,092,000 after acquiring an additional 33,500 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Performance

NYSE AMG traded down $0.15 during trading on Tuesday, reaching $191.62. 13,308 shares of the company traded hands, compared to its average volume of 241,436. The stock’s 50 day moving average price is $176.35 and its two-hundred day moving average price is $166.72. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 0.58 and a beta of 1.20. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $196.69.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.60 by $0.07. The firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.45 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,408 shares of company stock worth $3,865,068. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

AMG has been the topic of several research reports. Barrington Research boosted their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America lifted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, TD Cowen lifted their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.