Kiltearn Partners LLP Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Kiltearn Partners LLP reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 17.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,014 shares of the asset manager’s stock after selling 121,200 shares during the period. Affiliated Managers Group makes up about 10.5% of Kiltearn Partners LLP’s holdings, making the stock its largest holding. Kiltearn Partners LLP owned 1.74% of Affiliated Managers Group worth $86,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of Affiliated Managers Group by 17.3% during the 4th quarter. BNP Paribas Financial Markets now owns 4,853 shares of the asset manager’s stock valued at $735,000 after purchasing an additional 716 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Affiliated Managers Group by 7.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,256 shares of the asset manager’s stock worth $1,099,000 after buying an additional 508 shares in the last quarter. Norges Bank bought a new position in Affiliated Managers Group in the 4th quarter worth about $66,223,000. PNC Financial Services Group Inc. grew its holdings in shares of Affiliated Managers Group by 1.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,854 shares of the asset manager’s stock worth $1,189,000 after purchasing an additional 135 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Affiliated Managers Group by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 70,847 shares of the asset manager’s stock worth $10,728,000 after purchasing an additional 6,146 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMG has been the subject of several research analyst reports. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America upped 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 report on Tuesday, July 30th. Barrington Research raised their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. TD Cowen upped their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Stock Down 0.1 %

Affiliated Managers Group stock opened at $178.05 on Tuesday. The firm has a fifty day simple moving average of $171.35 and a two-hundred day simple moving average of $163.82. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $189.81. The company has a market capitalization of $5.67 billion, a PE ratio of 9.88, a P/E/G ratio of 0.52 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. During the same quarter in the previous year, the company posted $4.45 EPS. Affiliated Managers Group’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock valued at $3,865,068 over the last three months. 1.90% of the stock is owned by company insiders.

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.