CX Institutional Invests $4.66 Million in Affiliated Managers Group, Inc. (NYSE:AMG)

CX Institutional bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 26,224 shares of the asset manager’s stock, valued at approximately $4,663,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ariel Investments LLC raised its holdings in Affiliated Managers Group by 8.7% during 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after buying an additional 30,059 shares during the last quarter. LSV Asset Management raised its stake in Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after acquiring an additional 2,000 shares in the last quarter. Raymond James & Associates lifted its position in Affiliated Managers Group by 9.6% in the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after acquiring an additional 20,514 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Affiliated Managers Group by 36.3% in 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 last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $190.92 on Wednesday. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $192.87. The stock has a market capitalization of $6.08 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.58 and a beta of 1.20. The company’s fifty day moving average is $173.91 and its two-hundred day moving average is $165.91.

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 analysts’ expectations of $518.03 million. During the same period in the prior year, the company posted $4.45 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.98 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business 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. The ex-dividend date was Thursday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.22%.

Insider Buying and Selling

In related news, 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 value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of research analyst reports. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. TD Cowen increased 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. Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research increased their price target on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $210.50.

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.