LGT Capital Partners LTD. Sells 135,303 Shares of Affiliated Managers Group, Inc. $AMG

LGT Capital Partners LTD. lowered its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 68.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,815 shares of the asset manager’s stock after selling 135,303 shares during the period. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $12,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in shares of Affiliated Managers Group by 314.3% in the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock valued at $212,668,000 after acquiring an additional 960,158 shares in the last quarter. Nuveen LLC acquired a new position in Affiliated Managers Group during the first quarter valued at approximately $16,060,000. LSV Asset Management grew its stake in Affiliated Managers Group by 10.4% in the first quarter. LSV Asset Management now owns 468,084 shares of the asset manager’s stock valued at $78,652,000 after purchasing an additional 44,090 shares in the last quarter. Northern Trust Corp grew its stake in Affiliated Managers Group by 10.2% in the first quarter. Northern Trust Corp now owns 385,292 shares of the asset manager’s stock valued at $64,741,000 after purchasing an additional 35,681 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Affiliated Managers Group by 10.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 342,942 shares of the asset manager’s stock worth $67,481,000 after purchasing an additional 33,415 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction on 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 directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMG shares. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 6th. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $290.33.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $257.80 on Friday. The business has a fifty day moving average price of $242.12 and a two-hundred day moving average price of $213.28. The stock has a market capitalization of $7.25 billion, a PE ratio of 18.82, a P/E/G ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $265.59.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.88 by $0.22. The business 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $4.82 EPS. On average, equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.24%.

Affiliated Managers Group Company 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.