Quarry LP Buys Shares of 927 Affiliated Managers Group, Inc. (NYSE:AMG)

Quarry LP bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 927 shares of the asset manager’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in Affiliated Managers Group by 87.1% in the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock valued at $3,103,000 after purchasing an additional 8,628 shares during the last quarter. Bridgewater Associates LP grew its stake in Affiliated Managers Group by 24.9% in the fourth quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock valued at $19,285,000 after purchasing an additional 25,365 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Affiliated Managers Group during the second quarter worth about $1,293,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Affiliated Managers Group during the first quarter worth about $4,094,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $1,037,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

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 value of $1,547,820.00. Following the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the 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 transaction, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMG. 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 boosted their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. TD Cowen boosted their price target 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 boosted their price target 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. Finally, Bank of America boosted their price target on 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $199.80.

Affiliated Managers Group Trading Up 0.8 %

Shares of NYSE:AMG opened at $177.73 on Tuesday. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $189.81. The company’s 50 day moving average is $171.97 and its 200 day moving average is $164.43. The company has a market cap of $5.66 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results 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. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company 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 company earned $4.45 EPS. Affiliated Managers Group’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

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.