Dupont Capital Management Corp cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 27.2% during the second quarter, Holdings Channel reports. The firm owned 37,176 shares of the asset manager’s stock after selling 13,912 shares during the period. Dupont Capital Management Corp’s holdings in Affiliated Managers Group were worth $6,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of Affiliated Managers Group during the first quarter valued at about $104,000. Creative Planning boosted its stake in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock valued at $117,000 after buying an additional 92 shares in the last quarter. Financial Architects Inc boosted its stake in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock valued at $134,000 after buying an additional 801 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Affiliated Managers Group by 78.5% in the second quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock valued at $163,000 after buying an additional 431 shares in the last quarter. Finally, FNY Partners Fund LP bought a new stake in shares of Affiliated Managers Group during the first quarter valued at about $163,000. Institutional investors own 95.29% of the company’s stock.

Affiliated Managers Group, Inc. (NYSE:AMG) opened at 178.39 on Tuesday. The company has a market capitalization of $9.98 billion, a PE ratio of 19.76 and a beta of 1.65. The stock has a 50 day moving average of $175.34 and a 200 day moving average of $164.69. Affiliated Managers Group, Inc. has a 12-month low of $130.48 and a 12-month high of $187.08.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 35.80% and a return on equity of 14.54%. The company had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. During the same period in the previous year, the firm posted $3.07 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post $14.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is 8.87%.

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A number of brokerages recently weighed in on AMG. Credit Suisse Group upped their price target on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods restated a “buy” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and issued a $200.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, August 1st. BidaskClub lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $195.50.

In other news, Director Patrick T. Ryan sold 8,902 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the completion of the sale, the director now owns 10,342 shares in the company, valued at approximately $1,581,188.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight D. Churchill sold 3,277 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the sale, the director now owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,107 shares of company stock valued at $11,065,554. 1.40% of the stock is owned by corporate insiders.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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