Affiliated Managers Group, Inc. $AMG Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,728 shares of the asset manager’s stock after selling 1,891 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Affiliated Managers Group were worth $3,750,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 107 shares in the last quarter. Root Financial Partners LLC acquired a new position in Affiliated Managers Group during the 3rd quarter worth $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group during the 3rd quarter worth $34,000. Hantz Financial Services Inc. increased its position in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC raised its stake in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMG shares. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. The Goldman Sachs Group upped their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Finally, UBS Group set a $295.00 price target on Affiliated Managers Group in a research report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average target price of $340.50.

Affiliated Managers Group Stock Up 1.4%

Affiliated Managers Group stock opened at $308.20 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $333.99. The company has a 50-day simple moving average of $299.21 and a 200-day simple moving average of $259.14. The firm has a market capitalization of $8.67 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.56 and a beta of 1.21.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.