Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Creative Planning

Creative Planning cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,337 shares of the asset manager’s stock after selling 146 shares during the period. Creative Planning’s holdings in Affiliated Managers Group were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMG. Ariel Investments LLC boosted its stake 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 buying an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after acquiring an additional 30,059 shares during the last quarter. LSV Asset Management grew its holdings in shares of Affiliated Managers Group by 0.8% in the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates increased its position in Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after purchasing an additional 20,514 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Affiliated Managers Group by 36.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock worth $29,731,000 after purchasing an additional 47,239 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 1.3 %

NYSE:AMG opened at $193.78 on Friday. Affiliated Managers Group, Inc. has a 52 week low of $121.56 and a 52 week high of $199.52. The stock’s fifty day moving average is $179.45 and its two-hundred day moving average is $168.00. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.58 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. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Insider Transactions at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 completion of the transaction, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s 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 sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note 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. Deutsche Bank Aktiengesellschaft lifted their target price 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. Bank of America increased their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research restated an “outperform” rating and issued a $210.00 price objective on shares of Affiliated Managers Group in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.50.

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.