Amalgamated Bank Reduces Position in Affiliated Managers Group, Inc. $AMG

Amalgamated Bank decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,119 shares of the asset manager’s stock after selling 275 shares during the quarter. Amalgamated Bank’s holdings in Affiliated Managers Group were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Investment Management LLC boosted its position in shares of Affiliated Managers Group by 0.9% during the 1st quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock valued at $1,306,000 after acquiring an additional 69 shares during the last quarter. Guinness Asset Management LTD boosted its position in shares of Affiliated Managers Group by 2.4% during the 2nd quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock valued at $629,000 after acquiring an additional 74 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Affiliated Managers Group by 11.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock valued at $124,000 after acquiring an additional 78 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 83 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Affiliated Managers Group by 4.8% during the 1st quarter. M&T Bank Corp now owns 1,956 shares of the asset manager’s stock valued at $329,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $251.78 on Wednesday. The firm has a market capitalization of $7.15 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. The firm’s 50-day moving average is $237.21 and its two-hundred day moving average is $208.44. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $256.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.82 earnings per share. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.29%.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMG. The Goldman Sachs Group boosted their price target on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Bank of America upped their target price on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.57.

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.