Hi Line Capital Management LLC Sells 3,409 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Hi Line Capital Management LLC reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 34.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,581 shares of the asset manager’s stock after selling 3,409 shares during the quarter. Affiliated Managers Group accounts for about 0.6% of Hi Line Capital Management LLC’s holdings, making the stock its 21st biggest position. Hi Line Capital Management LLC’s holdings in Affiliated Managers Group were worth $1,170,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMG. Ariel Investments LLC raised its position in 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 acquiring an additional 115,808 shares during the period. Victory Capital Management Inc. raised its position in shares of Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after purchasing an additional 59,659 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Affiliated Managers Group by 36.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock worth $29,731,000 after acquiring an additional 47,239 shares during the period. Algert Global LLC increased its holdings in Affiliated Managers Group by 74.8% during the 2nd quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock worth $13,944,000 after acquiring an additional 38,206 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Affiliated Managers Group by 59.1% during the 2nd quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock worth $14,092,000 after acquiring an additional 33,500 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMG shares. TD Cowen boosted their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target 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. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barrington Research restated an “outperform” rating and issued a $210.00 price objective on shares of Affiliated Managers Group in a report on Wednesday. Finally, Bank of America increased their price target 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 MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus price target of $210.50.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group 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 transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. 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 the SEC website. In other Affiliated Managers Group 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 transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,408 shares of company stock worth $3,865,068. Insiders own 1.90% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $193.78 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $121.56 and a 1-year high of $199.52. The company has a 50 day simple moving average of $179.45 and a two-hundred day simple moving average of $168.00. The firm has a market cap of $5.78 billion, a P/E ratio of 11.38, a PEG ratio of 0.63 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced 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 business had revenue of $500.30 million for the quarter, compared to the consensus estimate of $518.03 million. During the same quarter in the prior year, the firm posted $4.45 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.02 earnings per share for the current year.

About Affiliated Managers Group

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.