Affiliated Managers Group, Inc. (NYSE:AMG) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 104,297 shares of the asset manager’s stock after purchasing an additional 7,613 shares during the quarter. Millennium Management LLC owned about 0.33% of Affiliated Managers Group worth $16,294,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at $28,000. Denali Advisors LLC increased its position in Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Affiliated Managers Group during the second quarter worth about $47,000. Blue Trust Inc. boosted its holdings in Affiliated Managers Group by 107.8% in the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 499 shares during the last quarter. Finally, EMC Capital Management boosted its holdings in Affiliated Managers Group by 27.0% in the 1st quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock valued at $199,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 1.5 %

AMG opened at $181.18 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $189.81. The business has a fifty day simple moving average of $172.45 and a 200-day simple moving average of $164.90. The firm has a market cap of $5.77 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.56 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 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The company had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $4.45 EPS. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared 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%.

Analyst Ratings Changes

AMG has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TD Cowen raised their target price 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 upped 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. Bank of America raised their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.80.

Insiders Place Their Bets

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

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.