Federated Hermes Inc. Cuts Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Federated Hermes Inc. lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 5.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,559 shares of the asset manager’s stock after selling 350 shares during the period. Federated Hermes Inc.’s holdings in Affiliated Managers Group were worth $868,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its stake in shares of Affiliated Managers Group by 0.5% in the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock worth $2,164,000 after acquiring an additional 69 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Affiliated Managers Group by 1.7% during the 4th 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. O Shaughnessy Asset Management LLC raised its position in Affiliated Managers Group by 4.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,261 shares of the asset manager’s stock valued at $546,000 after purchasing an additional 150 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Affiliated Managers Group by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock valued at $1,269,000 after purchasing an additional 150 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Affiliated Managers Group by 3.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 5,500 shares of the asset manager’s stock worth $833,000 after buying an additional 200 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of the 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 directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Down 0.8 %

AMG stock opened at $178.24 on Monday. The business has a 50 day simple moving average of $171.16 and a 200-day simple moving average of $163.69. The company has a market capitalization of $5.68 billion, a P/E ratio of 9.89, a PEG ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) 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 period last year, the firm posted $4.45 EPS. Affiliated Managers Group’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts predict that Affiliated Managers Group, Inc. will post 22.04 EPS 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 dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.22%.

Analysts Set New Price Targets

Several equities analysts recently commented on AMG shares. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barrington Research upped their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Cowen lifted 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. Finally, StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.80.

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.