Amalgamated Bank Has $3.12 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Amalgamated Bank decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,985 shares of the asset manager’s stock after selling 3,198 shares during the period. Amalgamated Bank owned about 0.06% of Affiliated Managers Group worth $3,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Affiliated Managers Group by 17.3% during the 4th quarter. BNP Paribas Financial Markets now owns 4,853 shares of the asset manager’s stock valued at $735,000 after purchasing an additional 716 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Affiliated Managers Group by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,256 shares of the asset manager’s stock valued at $1,099,000 after buying an additional 508 shares during the last quarter. Norges Bank acquired a new position in Affiliated Managers Group during the 4th quarter worth about $66,223,000. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 135 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Affiliated Managers Group by 9.5% in the 4th quarter. Wells Fargo & Company MN now owns 70,847 shares of the asset manager’s stock valued at $10,728,000 after acquiring an additional 6,146 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $178.05 on Tuesday. The firm has a fifty day moving average of $171.35 and a two-hundred day moving average of $163.82. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $189.81.

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

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of research reports. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Bank of America lifted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen upped their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Barrington Research lifted their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.80.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The sale 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 stock in a transaction dated 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 sale, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction dated 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. Over the last 90 days, insiders sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

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.