Renaissance Technologies LLC Has $14.09 Million Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Renaissance Technologies LLC raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,200 shares of the asset manager’s stock after buying an additional 33,500 shares during the quarter. Renaissance Technologies LLC owned 0.28% of Affiliated Managers Group worth $14,092,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC increased its stake in shares of Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 206 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group in the second quarter worth $47,000. Blue Trust Inc. increased its stake in Affiliated Managers Group by 107.8% in the second quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 499 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Affiliated Managers Group by 333.0% during the fourth quarter. Parallel Advisors LLC now owns 1,195 shares of the asset manager’s stock valued at $181,000 after purchasing an additional 919 shares during the period. Finally, EMC Capital Management boosted its position in shares of Affiliated Managers Group by 27.0% during the 1st quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock worth $199,000 after purchasing an additional 253 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Down 0.8 %

Shares of NYSE:AMG opened at $178.24 on Monday. The business’s 50 day moving average is $171.16 and its 200 day moving average is $163.69. Affiliated Managers Group, Inc. has a 12-month low of $120.22 and a 12-month high of $189.81. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.52 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million for the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.45 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Insiders Place Their Bets

In other news, 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 value of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,547,820.00. Following the sale, the chief executive officer now directly 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 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AMG. Barrington Research upped 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. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen upped their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Bank of America lifted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Two 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 currently has a consensus rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group 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.